Cloud data integration platform Matillion today announced that it closed a $150 million Series E round led by General Atlantic. The funding brings the company’s total raised to $310 million at a valuation of $1.5 billion.
Founded in 2011 by Ed Thompson and Matthew Scullion, Manchester-based Matillion develops a platform focused on the challenge of integrating and managing data at enterprise scale. Its solutions let companies source, enrich, and share data, transforming raw data into the analytics-ready data required to support business intelligence, visualisation, AI, and machine learning.
Matilion CEO Matthew Scullion told VentureBeat: “The modern data team is facing an influx of data from across the enterprise, facing immense pressure to quickly deliver actionable insights.”
“We’ve seen an increase in demand for our product as organizations rise to this challenge, especially as users look for options that allow for more cloud flexibility to drive down costs while still making the best use of their data.”
The enterprise data management market was valued at $72.79 billion in 2020 and is expected to climb at a CAGR of 13.8% from 2021 to 2028. According to a report by Grand View Research, the pandemic will likely have a positive impact on the segment due to increased software demand as work-from-home norms rise to prominence.
Matillion’s base of over 1,000 customers includes Amazon, Siemens, Subway, Novartis, Slack, and Accenture. By the end of 2021, the company plans to expand its workforce from 340 employees to 400.
Many of Matillion’s customers use the platform to sync back to their software-as-a-service (SaaS) apps or to replicate data from popular source systems into a cloud data warehouse. For example, one enterprise customer in financial services leverages Matillion to pull web traffic data into Amazon Redshift and then prepare that data to be ingested by a machine learning algorithm running on Amazon SageMaker, which produces a lead score. Matillion syncs this into Salesforce so that the sales team can prioritise accounts to focus on.
Matillion recently launched integrations for Databricks and rolled out a “create your own connector” service, in response to feedback from its customers on the problems faced when extracting and loading data from SaaS applications and in-house APIs.
“Perfecting and continuing to grow these capabilities will help Matillion meet exploding demand for cloud data integration for global enterprise organizations,” added Scullion.
