Matillion raises $35m to accelerate growth
Data transformation software provider Matillion has announced a $35 million round of funding.
Matillion delivered triple-digit revenue growth in 2018 for the third consecutive year.
Battery Ventures led the round which also included existing investors Sapphire Ventures and Scale Venture Partners. The company’s total funding to-date is now $60m.
The Altrincham-based company says the investment will allow it to deliver accelerated growth and extend the capabilities of its cloud-based product Matillion ETL.
“It’s our view that every company in the world needs to compete using data,” said Matthew Scullion, CEO at Matillion.
“And most of the time they’ll do this in the cloud. Only the cloud offers the speed, agility, power, and economics to cope with this demand for data insights, and to manage the exponentially growing data volumes and complexities that we work with today.
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“As the leader in purpose-built data transformation software for cloud data warehouses, Matillion is perfectly positioned to help our customers compete and win using data.
“That’s why we’re so excited to raise this round, partner with the great team at Battery Ventures, and to once again accelerate our business and the development of our current and future products.”
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Matillion’s software empowers customers to extract data from a wide number of sources, load it into their chosen cloud data warehouse, and transform that data from its siloed source state, into useful, joined together, analytics-ready data - ready to be consumed in analytics, machine learning and artificial intelligence use cases.
Purpose-built for the cloud, Matillion does this at scale, delivering fast time to value, high performance with pay-as-you-drink economics - simplicity, speed, scale, and savings.
Matillion's software is used by more than 550 customers across 40 countries, including global companies like Bose, GE, Siemens, Fox and Accenture, as well as high growth, data-centric companies like Vistaprint, Splunk, and Zapier.
Dharmesh Thakker, general partner at Battery Ventures, said: “Matillion has built an innovative, cloud-native, data-middleware product from the ground up, and the company partners with some of the fastest-growing cloud-data warehousing platforms that enterprises are deploying today.
“Battery is focused on such cloud-first businesses worldwide - including in Europe - as enterprise IT shifts to the cloud, and the ability to analyse data underpins the digital-transformation process at all companies.
“We’re excited to partner with Matthew and the Matillion team to help drive the next phase of the company’s global growth.”
UK national law firm Shoosmiths advised Matillion on the deal.