22 March 2018
Existing investor YFM Equity Partners provided additional funds alongside new investors Sapphire Ventures and Scale Ventures Partners to fund an accelerated growth and product development programme
Matillion, the makers of cloud data integration tools Matillion ETL for Amazon Redshift, Matillion ETL for Snowflake and Matillion ETL for Google BigQuery, today announced it has closed a $20 million Series B round of funding led by Sapphire Ventures, existing investor Funds advised and managed by YFM Equity Partners (“YFM”), the specialist UK-based private equity fund manager and new investor Scale Venture Partners. The funding will accelerate the Company’s leadership in the cloud data integration category.
The company, based in Altrincham, (Manchester, UK) and Manhattan (New York, US), was founded by Matthew Scullion in 2011, alongside Chief Technology Officer Ed Thompson and Commercial Director Peter McCord. Matillion has developed leading-edge software focused on allowing its customers to extract, load and transform data into and on cloud-based data warehouses, quickly and at scale.
Having raised Series A funding from YFM in November 2016, in the last 12 months the Company has seen significant commercial traction with annual recurring revenue of growth over 260%. Matillion’s software is used by more than 250 customers across 30 countries, including global corporates, such as GE, Siemens, Citrix and Accenture, as well as high growth, data-centric companies like Vistaprint, Zapier, DocuSign and Upside Travel.
Today’s funding will be used to expand sales, marketing, partnerships and research and development (R&D) to meet increasing demand and further accelerate development of the Matillion ETL product line. The round brings the Company’s total funding to over $26 million. In addition, Angela Warner, Portfolio Director at YFM, Andreas Weiskam, managing director, Sapphire Ventures and Andy Vitus, partner, Scale Ventures Partners, will join the Board of Directors.
Commenting on this new investment round, Angela Warner said: “Matillion has demonstrated outstanding growth in the period since YFM invested. The interest and enthusiasm shown in the fundraising process is testament to the quality of the product, the team and the opportunity to scale globally. This new investment round will enable the Company to invest in and expand the technical team in Altrincham, to support the continued product development and global expansion as companies of all sizes need the tools Matillion provides to swiftly & efficiently manage their data and drive their businesses forward. We look forward to continuing to work with the team and our new investment partners through the next phase of this exciting journey.
In addition we are delighted that this deal represents the third such investment backed by YFM Equity Partners during March, following on from the MBO of Checkmate Fire Solutions Ltd and Ncam Technologies Limited.”