SAN FRANCISCO, Feb 2 (Bernama-GLOBE NEWSWIRE) -- Trifacta, the global leader in data wrangling, announced $48 million in financing from new strategic investors, including Columbia Pacific, Deutsche Börse, Ericsson, Google, and New York Life along with participation from existing investors Accel, Cathay Innovation, Greylock Partners, Ignition Partners, and Ridge Ventures. This brings Trifacta’s total financing to $124 million to date.
Building on the company’s more than 3x increase in customer count, the new funding will support continued development of Trifacta’s award-winning data wrangling platform and accelerate the company’s continued cloud and geographic expansion. According to IDC, the big data and business analytics market will be worth $210 billion by 2020, and the market for data wrangling technologies is anticipated to grow 2.5x faster than the market for traditional data preparation tools. In addition, Gartner reports1 that data preparation technologies will be used in more than 50 percent of new data integration efforts for analytics by 2020.
“Investing in and partnering with Trifacta, an innovator with its leading data wrangling offering, helps us expand our capabilities in data-driven areas such as risk management, investment decision making and trading analytics meaningfully,” said Ankur Kamalia, MD & Head of Venture Portfolio Management and DB1 Ventures, Deutsche Börse.
“Trifacta’s cutting-edge technology, client success and vision position the company for continued growth,” said Paul McNamara, VP of Ericsson Ventures. “Ericsson is honored to invest with Trifacta to help drive further momentum in data wrangling that will help our telecommunications customers to get actionable insights and create business value from their data.”
“At New York Life, we're keenly focused on new analytics technologies to enhance our speed to insight,” said Joel Albarella, Head of New York Life Ventures. “As part of this effort, we’re investing in Trifacta for its forward-thinking approach to data wrangling.”
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