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Print Edition StoriesStreamBase Systems Inc., a maker of real-time data crunching software, has a new CTO as of today. Richard Tibbetts, formerly chief architect at the Lexington-based startup, fills the chair formerly occupied by fellow company co-founder Michael Stonebraker.
The move is StreamBase’s second recent top-level shift. In September, the company announced the promotion of chief operating officer Mark Palmer to the corner office. Former CEO Chris Risley moved to the chairman’s position.
Founded in 2003 out of an MIT research project, StreamBase provides complex event processing software. The company’s clients include banks, hedge funds and government agencies, which use the application to process large amounts of data. The company now has 50 employees, a spokesman said.
Earlier this month, StreamBase secured a $6.24 million Series D round of funding, bringing the company’s total investment to $52.24 million. The financing round included returning backers Highland Capital Partners, Accel Partners, Bessemer Venture Partners and In-Q-Tel, the investing arm of the Central Intelligence Agency.
Tibbetts directs development of StreamSQL, the event programming language he built with Stonebraker as a graduate engineering student at MIT. His weblog, “Nothing to See Here,” can be found at http://innocuous.org/.
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