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ICON secures £4.1m Series A funding for Matillion from YFM Equity Partners

Deal Release:

ICON secures £4.1m Series A funding for Matillion from YFM Equity Partners

Matillion Unquote

05 Dec 2016

ICON Corporate Finance has advised Matillion Limited, a leading provider of cloud-based data integration technologies, on a £4.1m Series A investment round with YFM Equity Partners.

Matillion delivers technology that helps companies exploit their big data using the Cloud. The Company has developed the world’s fastest ETL (Extract, Transform & Load) software product for Amazon Redshift, the data warehousing service on the Amazon Web Services (AWS) platform.

Matillion is one of AWS’s few Big Data Competency holders worldwide and its products have a rapidly growing customer portfolio of Fortune 500 and “Born-On-The-Cloud” “tech” customers across the US, UK and EMEA. Headquartered in Greater Manchester, Matillion opened its first international office in New York last month. The funding will be used to support the ramp up of the company’s sales and marketing operations in both the US and the UK as well as the continued growth of the development team.

Eddie Harding, Partner at ICON Corporate Finance who ran the funding process and introduced YFM to the company said “We are delighted to have secured this funding for Matillion which will enable management to continue to accelerate the Company’s entry into the rapid growth cloud-based Big Data Integration sector. Matillion has built a dominant position as a SaaS leader in the ETL space and this investment will enable the business to expand its US and UK operations and capitalise on the significant potential created by its success in the AWS marketplace”.

Matthew Scullion, MD at Matillion, added ”This funding will help us continue to realise the immense opportunities that stem from delivering cutting-edge structured data integration capabilities for the growing number of businesses, large and small, that are exploiting cloud-based database technology. We are delighted to have YFM’s backing and are looking forward to working together with the team, Pieter and Brian to become the leader in next-generation Data Integration.”

As part of its investment, YFM introduced Pieter Knook as Non-Executive Chairman who brings a wealth of technical and commercial expertise. Pieter spent 18 years at Microsoft, becoming one of its top 25 executives and was subsequently Internet Services Director at Vodafone. Pieter is joined by Non-Executive Director Brian Gentile, formerly CEO of BI company Jaspersoft which was acquired by TIBCO Software, and who previously held senior roles at Informatica, Sun Microsystems (now Oracle), NCR Corporation and Apple.

Commenting on this investment, Deborah Heyes, Investment Director at YFM, said "Matillion has a great opportunity to capitalise on the push to migrate data and systems to the Cloud. Its data integration platform is 100 times faster and easier to use than traditional ETL technology. We have been impressed by the team’s commitment to becoming the de facto choice for unlocking the power of cloud-based databases and are excited to back their future growth plans.”

Matillion was also advised by Janine Suttie and Ylan Steiner of King & Wood Mallesons; YFM by Jonathan Robinson, Vicky Ross and Nick Hawthorne of DWF LLP. Financial due diligence was provided by Russell Armstrong of RSM Corporate Finance LLP; Commercial due diligence by Phil Stone and Jamie Berridge of Plural Strategy and Human Resource DD by Anna Cornwallis at Stratton HR.

Key Facts:




Altrincham, Altrincham, United Kingdom

Key People

Matthew Scullion, MD


Deal type