- Data wrangling leader Trifacta recently announced that it raised $100 million in funding from a number of prominent companies and venture capital firms
Trifacta — a global leader in data wrangling — recently announced it raised $100 million in funding. This round of funding included new investors Telstra Ventures, Energy Impact Partners, NTT DOCOMO Ventures, BMW iVentures, and ABN AMRO Digital Impact Fund. And it also includes additional investment from existing investors including Accel Partners, Cathay Innovation, Google, Greylock Partners, Ignition Partners, and Infosys.
This round of funding will fuel adoption of Trifacta’s industry-leading data wrangling platform — which provides a modern, self-service approach to cleaning and preparing data. And the investment will also accelerate the company’s continued expansion into new geographies, new verticals, and product areas.
Telstra and NTT DOCOMO are going to be instrumental in increasing customer success in the Asia Pacific and will help penetrate the telecommunications vertical respectively. The company’s other strategic investors include BMW, Energy Impact Partners, and ABN AMRO Digital Impact Fund. This ensures broader success in the automotive, energy, utilities, and banking.
“As a part of our data strategy at ABN AMRO, we are focused on finding solutions where our business can use intelligent techniques to clean and prepare data,” said ABN AMRO, head of data engineering Marcel Kramer. “We see Trifacta as a key enabler that significantly reduces the time and cost to refine raw data. This will help us foster a collaborative data culture that accelerates the creation of new value, based on data.”
Through a unique combination of human-computer interaction, machine learning, and scalable data processing, Trifacta customers are modernizing their approach to creating and managing their data pipelines. And organizations can no longer rely on legacy, siloed data integration to handle the speed, scale, and diversity of today’s data. New technology processes and team structures are required if businesses want to take advantage of the transformational opportunities provided by the growth of artificial intelligence and cloud computing.
This has led to Trifacta’s tremendous customer growth and momentum over the past year. And more than 10,000 organizations around the world like IQVIA, Visa, Autodesk, Kaiser Permanente, BNSF, PepsiCo, Stanley Black & Decker, Franklin Templeton, Sumitomo Banking Corporation, New York Life and The Commonwealth Bank of Australia are working with Trifacta to democratize data wrangling.
“For the last decade, companies have been trying to become more data-driven, but most organizations have done little to enable people to get past all of the data friction that prevents them from asking and answering the most interesting questions,” added Adam Wilson, the CEO at Trifacta. “By automating complex data engineering tasks and enabling increased levels of self-service, Trifacta ensures organizations can harness the collective intelligence of their teams and make everyone a data hero.”
Trifacta’s innovative approach to data cleansing is also leveraged by a growing number of industry-leading artificial software vendors such as IBM and Google Cloud. And they distribute Trifacta as their data preparation standard to remove the critical barrier of poor data quality plaguing their customer’s AI and ML initiatives.
“For artificial intelligence and machine learning projects, a clean dataset is critical, but as sources of data increase, both in the cloud and on-premises, it’s challenging for enterprises to make data-driven decisions,” explained Mark Sherman, a managing director at Telstra Ventures. “Trifacta’s use of advanced machine learning helps wrangle data from various sources so that enterprises can improve data quality and make critical business decisions in a data-centric fashion.”
Trifacta is the only data preparation vendor to natively integrate into all three major cloud providers including AWS, Microsoft Azure, and Google Cloud. And the company has made significant investments in its technology platform and announced several partnerships and integrations — which has expanded the company’s reach across cloud environments.
“As we face an exponential growth in big data—from machines in our factories to connected cars on the road—we believe that Trifacta’s data prep solution will be key to accelerating the feedback loop between the hordes of data produced every day and the types of insights and actions taken by large organizations,” commented Marcus Behrendt, a partner at BMW iVentures. “Trifacta’s toolset is key to harvesting the data lakes and is therefore an enabler when shifting to a truly digital organization.”
Some of Trifacta’s other milestones over the past year include the general availability of Google Cloud Dataprep, a strategic relationship with IBM on the launch of IBM Infosphere Advanced Data Preparation, native integration with Azure Databricks, and the release of the first cloud data preparation platform for Snowflake.
“Artificial intelligence and the ever-increasing availability of data has the potential to revolutionize and improve our quality of life, but only to the extent that we can make this data usable,” noted Sameer Reddy, a partner at Energy Impact Partners. “Trifacta’s data wrangling platform is helping analytics and business teams unlock critical new use cases to empower more resilient cities, intelligent transportation, and cleaner energy. They fit squarely within EIP’s mission of helping innovators find opportunities to unleash the potential of an increasingly connected and sustainable future.”