On Tuesday, cloud data company Matillion announced that it raised $100 million in a Series D funding round led by Lightspeed Venture Partners.
Countless businesses were forced to transition to remote work and distributed workforces last year due to COVID-19. As a result, many of these businesses began to store their important data on the cloud, as opposed to hosting data on their own physical servers. Cloud computing and cloud-based services allow professionals to access this information from anywhere over the internet, which was a major boon for remote teams.
But relying more heavily on the cloud meant that businesses had to adapt to a whole new ecosystem in order to continue their work. This is where Matillion comes in. The Denver- and U.K.-based company has built a cloud-native data integration and transformation platform that draws information from multiple cloud-based sources — like Salesforce, Zendesk and so on — and stores that information in a cloud-based data warehouse. From there, this information can be accessed quickly and easily, allowing companies to leverage that data to monitor their business as a whole and make informed decisions based on data analytics.
“Modern data teams are facing an influx of data from across the enterprise, while under immense pressure to rapidly deliver the actionable insights required to compete in today’s digital economy,” CEO Matthew Scullion said in a statement. “Simply put, Matillion makes data useful. Matillion accelerates the value of today’s cloud data platforms, ensuring that data teams can work smarter and faster. We look forward to our next phase of growth, as we empower more enterprise customers with efficient, affordable and flexible solutions that turn data into their most strategic asset.”
This tool is especially useful for large enterprise companies that deal with a lot of data that needs to be accessed by hundreds employees (or sometimes more). Over 500 large cap companies use the platform, including Slack, Cisco, Siemens, Subway, Novartis and Amazon. Matillion also says that it allows companies to access their data faster than other data warehouse tools.
Matillion has seen a huge growth in demand for its platform over the past few months. So the company chose to raise this funding in order to expand to meet that demand.
The company has recently hired several key executives for its leadership team, including Shannah Van Winkle as its chief customer officer, Ciaran Dynes as its chief product officer, Kenneth Paqvalen as its chief financial officer and Barrett Foster as chief revenue officer.
Matillion is currently hiring for dozens of roles across the company, including a handful of sales and customer success roles based in Denver.
