Data firm eyeing further growth following $100m funding deal
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Altrincham cloud company, Matillion, has achieved $100m in Series D funding led by Lightspeed Venture Partners, the American venture capital firm focused on early stage investments in the enterprise technology and consumer space.
The funding also involved participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners with financing from Silicon Valley Bank UK branch.
The injection will fuel the company’s growth as it meets exploding demand for cloud data integration for global enterprise organisations such as Amazon, Siemens, Subway, Novartis, Slack, and Accenture.
Matillion, which also has a presence at Bruntwood Works’ Blackfriars House in Manchester, specialises in data transformation software for cloud data warehouses.
Last December it featured in the inaugural Mills & Reeve Top Tech: North West, in collaboration with TheBusinessDesk.com, which recognised the region’s most pioneering and innovative technology companies.
A recent survey by IDG and Matillion found data teams spend nearly half their time preparing data for analytics.
Matillion’s cloud-native platform enables enterprise organisations to transform raw data into the refined, analytics-ready data required to support business intelligence, visualisation, artificial intelligence and machine learning.
Chief executive, Matthew Scullion, said: “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.”
Rytis Vitkauskas, partner at Lightspeed, said: “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.
“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.”
In June, 2019, Matillion completed a £27m round of funding, led by Battery Ventures, taking the firm’s total funding at the time to £47m. Existing investors, Sapphire Ventures and Scale Venture Partners also participated.
That followed a deal in March 2018, when Matillion raised $20m in Series B funding led by Silicon Valley investors Sapphire Ventures and Scale Venture Partners.