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September 12, 2019

Trifacta Raises $100M to Support Explosive Growth of Data Wrangling for AI and the Cloud

SAN FRANCISCO, September 12, 2019 — Trifacta, the global leader in data wrangling, announced it has secured $100 million in financing. This round of funding welcomes new investors, including Telstra Ventures, Energy Impact Partners, NTT DOCOMO Ventures, BMW iVentures and ABN AMRO Digital Impact Fund. It also includes additional investment from existing investors including Accel Partners, Cathay Innovation, Google, Greylock Partners, Ignition Partners, and Infosys. The new capital will fuel adoption of Trifacta’s industry leading data wrangling platform, which provides a modern, self-service approach to cleaning and preparing data. The investment will also accelerate the company’s continued expansion into new geographies, new verticals and product areas. Telstra and NTT DOCOMO will be instrumental in increasing customer success in Asia Pacific and will help penetrate the telecommunications vertical respectively. Other strategic investors such as BMW, Energy Impact Partners and ABN AMRO Digital Impact Fund will ensure 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 Marcel Kramer, Head of Data Engineering  at ABN AMRO. “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. 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 advent of artificial intelligence and cloud computing. This has led to tremendous customer growth and momentum for Trifacta over the past year. More than 10,000 organizations around the world, such as IQVIA, Visa, Autodesk, Kaiser Permanente, BNSF, PepsiCo, Stanley Black & Decker, Franklin Templeton, Sumitomo Banking Corporation, New York Life and The Commonwealth Bank of Australia, rely on 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,” said Adam Wilson, 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.”

Conquering Challenge of Data Quality for Artificial Intelligence

According to Harvard Business Review, “Poor data quality is enemy number one to the widespread profitable use of machine learning.” Organizations are quickly realizing that AI initiatives are rendered useless and in some cases detrimental without clean data to feed the algorithms they are employing. No one wants to automate bad decisions, faster based on bad data. To quickly detect and remediate challenging quality problems, Trifacta applies AI to the data to improve the AI customers derive from data.

“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,” said Mark Sherman, Telstra Ventures Managing Director. “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’s innovative approach to data cleansing is also leveraged by a growing number of industry-leading AI software vendors such as IBM and Google Cloud. 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.

Continuing Momentum Through Cloud Expansion  As the only data preparation vendor to natively integrate into all three major cloud providers – AWS, Microsoft Azure and Google Cloud – Trifacta has made significant investments in its technology platform and announced several partnerships and integrations, which has expanded the company’s reach across cloud environments. Additional 2018-2019 milestones include:

About Trifacta:

Trifacta is the global leader in data wrangling. Trifacta leverages decades of innovative research in human-computer interaction, scalable data management and machine learning to make the process of preparing data faster and more intuitive. Around the globe, tens of thousands of users at more than 10,000 companies, including leading brands like Deutsche Boerse, Google, Kaiser Permanente, New York Life and PepsiCo, are unlocking the potential of their data with Trifacta’s market-leading data preparation solutions. Learn more at trifacta.com.


Source: Trifacta 

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