Manchester-based Matillion, which offers a cutting edge platform for cloud data integration, has raised £72.24 million in funding. The latest Series D funding round of £72.24 million was led by US-headquartered Lightspeed Venture Partners. Other investors include Sapphire Ventures, Battery Ventures, Silicon Valley Bank Capital and Scale Venture Partners.
Matillion is one of the most renowned and trusted names in Manchester for cloud data integration. With the freshly raised funds, the firm aims to meet the exploding demand for cloud data integration for organizations globally, like Siemens, Amazon, Novartis, Subway, Slack and Accenture.
More on Matillion raises £72.24 million
Matthew Scullion, Matillion CEO said that the company will use the funds in tapping a still largely untapped market opportunity, the enterprise segment. Further, he said that the funds will be invested in the company’s growth to support customers of the enterprise sector and their cloud-data projects. Moreover, it will also be used in accelerating and innovating the capabilities of the platform itself. The company also plans on developing and launching new features and products that increase overall productivity, he said.
Scullion said that there is a huge market for cloud data integration platforms for mid-sized companies, and that’s what they do. The addressable market for data integration is worth £2.23 billion. The growth in this demand comes from, among other factors, cloud migration. The firm helps enterprises in this space that want to move to the cloud and require insights faster using the data within their organisation itself, Scullion says.
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Founded in 2010, Matillion is a UK-based company that has developed a groundbreaking software for data ETL (extract, transform and load). The software is used to prep and move organization data from operational systems to cloud platforms like Amazon Redshift, Databricks, Snowflake, Google Big Query and Azure Synapse.
The company aims at making data insightful for enterprises. It also aims at helping data scientists, business analysts and data engineers in incorporating all their data in analytics. The company competes with other ETL providers like Talend and Informatica.
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