Altringham-based cloud data integration platform Matillion has announced $100 million in Series D funding.
The funding was led by Lightspeed Venture Partners with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners and financing from Silicon Valley Bank UK Branch.
Matillion said the funding will fuel the company’s growth as it meets “exploding” demand for cloud data integration from global organizations such as Amazon, Siemens, Subway, Novartis, Slack and Accenture.
It said its platform enables enterprise organizations to “transform raw data into the refined, analytics-ready data required to support business intelligence, visualization, artificial intelligence and machine learning.”
The company’s data integration platform “accelerates time to value” with cloud data platforms such as Snowflake, Amazon Redshift and Databricks by delivering “powerful and easy-to-use low-code/no-code solutions” for a wide range of data professionals.
“Modern data teams are facing an influx of data from across the enterprise, while under immense pressure to rapidly deliver the actionable insights required to compete in today’s digital economy,” said Matillion CEO Matthew Scullion.
“Simply put, Matilion makes data useful.
“Matillion accelerates the value of today’s cloud data platforms, ensuring that data teams can work smarter and faster.
“We look forward to our next phase of growth, as we empower more enterprise customers with efficient, affordable and flexible solutions that turn data into their most strategic asset.”
Colleen Kapase, VP of Worldwide Partners and Alliance at Snowflake, said: “The public cloud market provides enterprises with an enormous opportunity to make data-driven decisions through near-instant access to insights.
“Snowflake’s Data Cloud and Matillion’s platform are trusted to support enterprises in cloud modernization projects that enable data innovation and unlock data access.
“Matillion is a key component of the modern cloud data tech stack, helping businesses to quickly load and transform their data using the full power of elastic cloud compute.”
Rytis Vitkauskas, Partner at Lightspeed, said: “Matillion has emerged as a preferred choice for enterprise cloud ETL and ELT solutions.
“While legacy providers are failing in a cloud-first world, Matillion has accelerated the broader enterprise cloud migration trend and redefined the standard for modern data integration and transformation.
“Today, for every five dollars spent on cloud warehousing, companies also spend on average a dollar on cloud-first ETL, creating what effectively is a new $10B+ market.
“We’re proud to lead Matillion’s Series D and partner with Matthew and his team as they continue to scale and deliver rapid returns on cloud investments for global enterprises.”