The last twelve months have been transformative for Trifacta and for the customers using our solutions to solve their complex data wrangling challenges. In 2015 alone, we grew our enterprise customer base over 10x and increased bookings by 700% with household brands such as Pepsi, RBS, Kaiser Permanente, TeliaSonera, and Juniper Networks. The success of these customers and our ongoing commitment to product innovation earned us recognition as the leader in data preparation by Dresner Advisory Services.
Building on this success, we also shipped Trifacta Wrangler late in the year to put the power of our product in the hands for data professionals everywhere—for free! This free version of our enterprise product saw adoption at over 3,000 different companies in the first 90 days. To support this rapid adoption, and to help our enterprise customers with large scale implementations, we doubled our investment across all functions last year and continue to hire across all departments.
We’re in the early innings of the big data revolution, but IDC already predicts the market will grow to an astounding $48.6 billion by 2019. Given the significant role Trifacta will play in helping to unlock the huge potential of big data, I’m excited to announce we’ve raised an additional $35M in growth-stage financing to invest in product innovation and to accelerate the delivery of data wrangling solutions to customers. This round comes from existing investors Accel Partners, Greylock Partners, and Ignition Partners, as well as new, global investor Cathay Innovation, which will be strategic to our expansion outside North America. However, though we’re excited about the validation this financing represents, we’re more focused than ever on creating raving fans across the globe and building a durable business that empowers data analysts to solve their largest and most complex data wrangling problems with Trifacta.
Helping People Who Know the Data Best Do The Wrangling
Trifacta was started with a simple mission: help nontechnical users unlock the potential of their data. As we successfully onboard new customers, it’s been rewarding to see this mission come to life. Their big data initiatives vary, as do the specific types of wrangling challenges they face, but it’s clear that forward-thinking companies are hungry for faster, more agile ways to discover, structure, clean, enrich, validate and publish data to accelerate their success. It’s also clear they want to use tools like Trifacta to enable a much broader set of users to take data from raw to refined.
For example, take PepsiCo, a massive company that moves billions of products around the globe. Their forecasting team took a manual reporting process built upon Access databases and Excel spreadsheets and replaced it with Trifacta. Now, these analysts are closer than ever to the raw data they need—no time wasted relying on others to harmonize the data for them. But even better, is hearing how much they enjoy the experience of using Trifacta. How much time they’ve saved. How much time they now get to spend exploring new analysis opportunities. PepsiCo actually crunched the numbers for us and came back with something pretty impressive: with Trifacta, overall reporting time has been cut by 70% and analytic build time by 90%. What used to take weeks, now takes clicks with Trifacta.
Another great example is at The Royal Bank of Scotland, where they are developing a deeper understanding of their customers with the ability to analyze not just transactions, but nuanced interactions, too. What used to happen through a handshake at a retail branch now happens digitally through chat, email, voice, and web interactions, billions of times a day across the globe. Trifacta helps RBS wrangle this unstructured data to build a 360 degree view of their customer across communication channels so they are spending less time knitting data together and more time ensuring they are recommending the right products, to the right customer, at the right point in time. Driven by the idea that they could radically rethink the way they analyze customer sentiment, needs, and behavior, The Royal Bank of Scotland has been able to personalize and enhance their service with more targeted way than ever before. Their energy and appreciation for big data is palpable and I’m excited to see what they do next with Trifacta.
The stories at PepsiCo and RBS are great examples of how we allow people who know the data best to do the exploration and assist them in preparing the information for downstream analysis. Trifacta automates what was once a complex, technical task and empowers the people with the business context in their heads to structure and shape the data interactively. As data volumes grow and data formats explode, the ability to do data preparation in an agile fashion is critical to success. These users, many of whom might have previously considered data wrangling too complex are now able to do this work directly and deliver data that is fit for purpose in a fraction of the time.
At the same time, Trifacta empowers IT organizations that are dealing with an ever-changing set of requirements to integrate these subject matter experts into the analytics supply chain, increasing ROI on their data lake investment and shifting the focus of their role from gatekeeper to enabler. In that sense, data wrangling has truly opened up the doors to a more collaborative, consultative relationship between technical and non-technical users, between business and IT, between consumers and providers, between those who own the data lake and those hunting new information to increase efficiency and improve effectiveness of the business.
Our goals for 2016 are significant, and worthy of a group this talented and an opportunity this large. I’m honored to be part of such an intelligent, driven group of people who love the challenge of solving the world’s most complex data problems. You have our commitment that we will continue to engage with our customers and partners obsessively, early and often, with great empathy and growing strength.
Stay tuned for more exciting announcements this Spring, but in the meantime, I encourage you to give Trifacta a try for yourself! Our wrangler product is free for you to use as long as you’d like. Simply sign up for free Trifacta Wrangler here and let me know what you think.