Matillion raises $100mn for cloud data integration
Manchester, UK-based Matillion offers a platform that integrates data in the cloud.
The utility of data to any organisation has never been more obvious, but analysing it effectively often requires that data to be properly prepared - an often time consuming process. Integrating with cloud data platforms such as Snowflake or Amazon Redshift, the Matillion platform automates the process of making data ready for uses such as business intelligence or machine learning.
The platform also features low- and no-code solutions to democratise access to data throughout an organisation.
$100mn Series D
Yesterday, the company announced $100mn in Series D funding, led by Lightspeed Venture Partners, alongside Battery Ventures, Sapphire Ventures, Scale Venture Partners and Silicon Valley Bank UK. Since its foundation in 2011, the company has raised over $160mn across four funding rounds.
"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 Matthew Scullion, CEO of Matillion.
"Simply put, Matillion 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."
A booming industry
The company said it would use the funds to meet the growing demand for cloud data integration from the world’s largest companies in particular.
“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," said Rytis Vitkauskas of Lightspeed Venture Partners. "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 $10bn+ market.