Denver’s Matillion raises $35M to fuel rapid growth

June 4, 2019
Matillion Team
photo by nick cote

Matillion launched its cloud services platform in 2011, but it wasn’t until 2015 that it found the key to its newfound success.

Initially, the company helped customers build and manage their cloud data warehouses. However, the deeper it got into managing those cloud data warehouses, the more frustrated Matillion’s team became that the there were no tools to help companies draw insights and make informed decisions from their data, as there had been with on-premise servers.

In the words of Matthew Scullion, Matillion’s CEO, the data remained siloed. So, in 2015, the team took it upon itself to build those tools.

“We took that experience we gathered building these data warehouses for customers and turned it into a tool that would be a great fit for this new need,” Scullion told Built In.

That pivot launched Matillion on the growth trajectory it’s on today. The Denver and Manchester-based company has tripled its revenue for the third straight year. Meanwhile, the company announced on Tuesday that it has raised $35 million in a Series C funding round to fuel its expansion and accelerate its product development.

“This round of funding allows us to continue [Matillion’s growth] and accelerate it,” Scullion said. “We feel companies of all sizes need to compete using data to understand their customers and serve them better.”

Matillion’s platform allows companies to take data from all sources — like Salesforce, Zendesk and the like — and deposit it in a cloud data warehouse. From there, it helps them aggregate that information and blend it all together so that customers can draw insights and make informed decisions from it.

We feel companies of all sizes need to compete using data to understand their customers and serve them better.”

Last year, the company opened its second headquarters in Denver, where most of its customer-facing team sits. This year, the company has gone from 80 employees to about 125, with 30 of them in Denver.

By year’s end, Matillion plans to add between 50 and 75 employees across all of its locations, with about half expected to land in Colorado.

“The strong demand we’ve been experiencing has allowed us to invest and build our team, invest in our product and in our surrounding processes so that we can best serve our customers and partners,” Scullion said.

Battery Ventures led the round, with participation from existing investors Sapphire Ventures and Scale Venture Partners.

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