Businesses and the tech companies that serve them run on data. Best of all, it can be used to help with decision making, to understand how well or badly an organization is doing, and to build new systems to drive the next generation of services. Is. However, at its most challenging, the data can represent a real headache: there’s too much, too much space, and too much work to fetch in any sort of order.
Enter Matillion, a startup that has built a platform to help companies use their data to can do What’s more, the platform is not just for data scientists, but it is written with a “low-code” approach that can be used by a wider group of users.
Today, it’s announcing a major round of investment — $150 million at a $1.5 billion valuation — a sign of not only Matillion’s traction in this space, but market demand for the technology it’s built into. .
The company currently has “hundreds” of large enterprise customers, including Western Union, Fox, Sony, Slack, National Grid, Peet’s Coffee, and Cisco, which range from business intelligence and visualization to artificial intelligence and machine learning applications. for projects up to .
General Atlantic is leading the funding, with Battery Ventures, Sapphire Ventures, Scale Venture Partners and Lightspeed Venture Partners — some of the world’s biggest venture startup investors also participating. Matillion last raised money — a Series D of nearly $100 million — recently in February of this year, at what was an undisclosed valuation at the time.
The announcement of this latest round at a valuation of $1.5 billion is not only significant for Matillion. The startup was founded in Manchester (it now also has a base in Denver), and this makes it one of the few tech startups out of town – others we’ve covered recently include The Hut Group, Peak AI and Fractry. Includes – now hitting the big leagues and helping put it on the innovation map as an urban center to see.
Matthew Scullian, the startup’s CEO and founder, explained that the issue Matilion is addressing is the diamond-in-the-rough promise of big data. Typically, large organizations are producing vast amounts of data every day, extremely valuable information as long as it can be tapped efficiently. The problem is that this data is often sitting in many different places – typically large organizations can have more than 1,000 data sources, multiple cloud and apps sitting on servers, and Snowflake, Amazon Redshift and Databricks may have storage. can. On top of that, while much of that data is structured, those sources are not necessarily intertwined.
“Data has become the new currency, and the world is moving towards that,” he said. “It’s changing all aspects of how we do things, and it’s happening very fast. But the problem is that the world has limited ability to innovate with data. It’s the lack of data or the ability to put it to work. The point is not the demand, but the world’s ability to make that data useful.”
Matilion answers that with a framework and system that can identify data sources and seamlessly bring order to them, without the need to move data from one location to another for use. . It’s an ETL (Extract, Transform, and Load) provider, and it’s far from being the only one on the market, with many, such as Dataiku, Talent, SnapLogic, as well as cloud providers like AWS and Microsoft, trying to do so. address this area.
The difference with Matillion, Scallion said, is that it’s democratic platform, so that organizations don’t need to rely on data scientists to use it, by building a low-code interface around it.
“We’ve made it accessible, intuitive and easy to use by bringing in a low-code approach,” he said. “We have developed a platform and data operating system that has everything an organization needs in a kit bag to make it useful.”
This is important because, as the tools for creating big data analysis and these processes become more mainstream and themselves carry low-code interfaces, Matilion is providing a way for those less technical users to source and use their data. Is. This means greater efficiency, lower costs, and more time for data scientists to work on more difficult problems and less busy.
“As organizations look for ways to harness data to make better business decisions, the market for cloud data integration and transformation is expanding,” said Chris Colkin, MD and head of technology at General Atlantic for EMEA. said. “We believe that Matian’s low-code ETL platform simplifies the process of building data pipelines and preparing data for analysis, allowing citizen data scientists and data engineers alike to play a key role in extracting data-based insights. We look forward to supporting the team through the next phase of growth and expansion.”