The Series E funding, which increases the company’s valuation to $ 1.5 billion, will be used to accelerate development work and expand go-to-market initiatives and channel resources.
The developer of cloud data integration technology Matillion has raised $ 150 million in Series E funding, the company announced on Wednesday, increasing the company’s valuation to $ 1.5 billion.
The new funding marks Matillion’s second three-digit round of funding this year: The company raised $ 100 million in Series D funding in February. In total, Matillion has raised $ 310 million since its inception in 2011.
The most recent round of funding was led by growth capital company General Atlantic, with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners and Lightspeed Venture Partners.Matillion’s flagship Extract, Transform and Load (ETL) platform collects data from a variety of sources, including cloud and on-premise databases and software-as-a-service applications, and moves it to cloud Data warehouse and data lake systems such as Snowflake, Amazon Redshift, Google Big Query, Microsoft Azure Synapse and Databricks Delta Lake.
Companies today struggle with exploding amounts of data and use “big data” for business analysis, AI and machine learning projects, which can offer a competitive advantage – but require a lot of data preparation. Such projects, which are often part of larger initiatives for cloud migration or digital transformation, are important drivers of demand for data management and data integration tools like Matillion.
“This is a unique tectonic change as companies digitize and use data to serve their customers better serve, develop new products, and improve their products [and] streamline their business processes, ”said Matillion CEO and Co-Founder Matthew Scullion in an interview with CRN.
“As companies seek ways to use data to make better business decisions, the cloud data integration and transformation market is growing,” said Chris Caulkin, managing director and head of technology for EMEA at General Atlantic, in a statement / p> “We believe that Matillion’s low-code ETL platform simplifies the process of building data pipelines and preparing data for analysis, allowing citizen data scientists and data engineers alike to play a valuable role in mining to play data-based insights. We look forward to supporting the team in its next phase of growth and expansion, “said Caulkin.
Matillion, headquartered in Manchester, UK and Denver, Colorado, competes with Informatica, Talend and in the data integration / ETL space Fivetran and with large software companies like Oracle, IBM, SAP and Microsoft that offer data integration products.
While Matillion is a late-stage startup, a large part of the new funds will be used to further develop the company’s technology and products, Sullion said. “Matilion has always made huge investments in R&D, in products and technology,” said the CEO, noting that the engineering team is still the largest operation within the company, now as a whole has nearly 400 employees.
However, according to Scullion, Matillion is also making “significant investments” in sales, marketing and customer support, and that includes the K operations of the company.
Matillion launched the Matillion Partner Network, its first channel program, in September 2019, and the company works with system integrators, data consultancies and strategic service providers, including Sirius and Slalom, as well as the major cloud platform companies and technology partners like Tableau. together and ThoughtSpot, whose products are integrated with Matillion.
The company will use a portion of the new funds to expand partner resources in technical support, training and accreditation, co-marketing, and support systems and processes and become partners to help build service packages around the Matillion platform, said Scullion.