Trifacta Raises $100 Million to Support Explosive Growth of Data Wrangling for AI and the Cloud
Investment follows year of more than 3X user growth and more than 2X revenue growth in 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:
- General Availability of Google Cloud Dataprep by Trifacta: To help companies accelerate exploration, cleaning and preparation of structured and unstructured data on Google Cloud, Google partnered with Trifacta to bring to market Google Cloud Dataprep by Trifacta, an embedded version of Trifacta’s data preparation technology on Google Cloud.
- Strategic Relationship with IBM on Launch of IBM Infosphere Advanced Data Preparation: To ease the data preparation process feeding data catalogues and machine learning models, IBM partnered with Trifacta to launch — IBM InfoSphere Advanced Data Preparation.
- The Launch of Trifacta’s Serverless Data Preparation Service on AWS: To best meet enterprises’ evolving data needs in the cloud, AWS partnered with Trifacta to deploy a new serverless data preparation service that allows customers to access and wrangle their data, while benefiting from the agility the cloud provides.
- Native Integration with Azure Databricks: To meet growing market demand for a more efficient approach to managing data quality, preparation and pipelines on the Microsoft Azure Platform, Trifacta expanded upon its existing support for the Microsoft Azure ecosystem by adding native support for Azure Databricks.
- The Release of the First Cloud Data Preparation Platform for Snowflake: To more efficiently clean data for the growing number of cloud analytics platforms, Trifacta added native connectivity for Snowflake’s Zero Management Data Warehouse.
- Trifacta Named as a Leader in Data Preparation Solutions in Forrester Wave: In Forrester’s second market assessment of the data preparation market, Trifacta was once again recognized as the leading technology. Trifacta has been ranked as the top data preparation technology across every independent analyst report or user ranking on the category.
- The Extension of Trifacta’s Data Preparation Focus to Modernize Data Quality: To enable organizations to modernize their approach to addressing data quality issues that hinder the success of analytics, machine learning, and cloud data management initiatives, Trifacta launched a new set of capabilities, Active Profiling and Smart Cleaning, which are focused on making data quality assessment, remediation and monitoring more intelligent and efficient.
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Additional Supporting Quotes:
“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 everyday and the types of insights and actions taken by large organizations,” said Marcus Behrendt, partner, BMW iVentures. “Trifacta’s toolset is key to harvesting the data lakes and is therefore an enabler when shifting to a truly digital organization.”
“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,” said Sameer Reddy, 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.”
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.