Altrincham-based cloud data integration platform Matillion has announced $150 million in Series E funding, led by growth equity firm General Atlantic with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners and Lightspeed Venture Partners.
This funding brings the total amount raised by Matillion to $310m and gives it a valuation of $1.5 billion.
Matillion currently has more than 290 employees working between dual headquarters in Altrincham and Denver, Colorado and has offices in New York and Seattle.
The company helps organizations of all sizes, around the globe and across industries, integrate and transform data.
“The average enterprise uses more than 1,080 different data sources in its analytics program,” said Matillion.
“Even as cloud data platforms such as Snowflake, Amazon Redshift, and Databricks become central to modern data architectures, enterprises struggle to collect, synchronize and transform their data for analytics, AI and ML programs.
“Traditional and other methods are primitive and slow, relying heavily on hand-coding and placing the burden of enterprise data preparation on a few workers.
“This creates information gaps within the organization and limits critical insights.
“Matillion unlocks the data supply chain, accelerating time to value by delivering a data operating system that integrates and manages data at scale.
“This allows enterprise data teams to work together to source, enrich and share data, enabling the rapid and data-led decision-making required to compete and win in today’s digital economy.”
Matillion CEO Matthew Scullion said: “Enterprises need to effectively close information gaps by rapidly transforming operational data into analytics-ready datasets that fuel business intelligence, AI, and ML innovation.
“With Matillion, large organizations are empowered with a data operating system that is purpose-built for the enterprise, enabling a broad spectrum of data users — from data scientists and engineers to marketers and business analysts — to make data useful.”
Chris Caulkin, MD and Head of Technology for EMEA at General Atlantic, said: “As organizations look for ways to harness data to make better business decisions, the market for cloud data integration and transformation is expanding.
“We believe that Matillion’s low-code ETL platform simplifies the process of constructing data pipelines and preparing data for analysis, enabling citizen data scientists and data engineers alike to play a valuable role in extracting data-based insights.
“We look forward to supporting the team through its next phase of growth and expansion.”
Hundreds of large enterprises including Western Union, FOX, Sony, Slack, National Grid, Peet’s Coffee and Cisco use Matillion’s “cloud-native, low-code/no-code solutions to transform raw data into an analytics-ready asset, ready to power business intelligence, visualization, artificial intelligence, and machine learning projects.”