5 June 2019
YFM-Backed Matillion raises $35 million in series C Round to further advance its leadership in data transformation in the cloud. Investment led by Battery Ventures will fuel continued rapid expansion and new products in response to strong market demand.
Matillion, the leading provider of data transformation software for cloud data warehouses (CDWs), today announced a $35 million round of funding.
The investment will allow Matillion to capitalize on its leading category position while continuing to deliver accelerated growth, and extend the capabilities of its flagship product line, Matillion ETL. Following the $5m series A investment led by YFM this latest round led by Battery Ventures, brings Matillion’s total funding to-date to $65 million. Series B investors, Sapphire Ventures and Scale Venture Partners also participated.
Continued strong demand for Matillion’s data transformation software, purpose-built for the cloud, led the company to deliver triple-digit revenue growth in 2018 for the third consecutive year. The new investment, based on Matillion’s sustained success, accelerates the company’s expansion both within and well beyond its native-built solutions for CDWs.
“It’s our view that every company in the world needs to compete using data,” said Matthew Scullion, CEO at Matillion. “And most of the time they’ll do this in the cloud. Only the cloud offers the speed, agility, power, and economics to cope with this demand for data insights, and to manage the exponentially growing data volumes and complexities that we work with today. As the leader in purpose-built data transformation software for cloud data warehouses, Matillion is perfectly positioned to help our customers compete and win using data. That’s why we’re so excited to raise this round, partner with the great team at Battery Ventures, and to once again accelerate our business and the development of our current and future products.”
“Matillion has built an innovative, cloud-native, data-middleware product from the ground up, and the company partners with some of the fastest-growing cloud-data warehousing platforms that enterprises are deploying today,” said David Hall, managing partner at YFM Equity Partners. “As enterprise IT shifts to the cloud, and the ability to analyze data underpins the digital-transformation process at all companies it is a testament to Matillion’s progress in this market that it has attracted not only further investment but added depth and capacity to its shareholder base”
“Matillion has established itself as an essential component to the modern enterprise’s data analytics tech stack,” said Denise Persson, CMO at Snowflake. “Our shared focus on innovation has made us great partners, and this latest investment reinforces Matillion’s leadership in cloud-native solutions for data transformation. We’re excited to see them continue their growth trajectory as they advance their industry-leading technology to serve our joint customers.”
Matillion’s software empowers customers to extract data from a wide number of sources, load it into their chosen cloud data warehouse, and transform that data from its siloed source state, into useful, joined together, analytics-ready data – ready to be consumed in analytics, machine learning and artificial intelligence use cases. Purpose-built for the cloud, Matillion does this at scale, delivering fast time to value, high performance with pay-as-you-drink economics – simplicity, speed, scale, and savings.
Matillion’s software is used by more than 550 customers across 40 countries, including global companies like Bose, GE, Siemens, Fox and Accenture, as well as high growth, data-centric companies like Vistaprint, Splunk, and Zapier.