20 Sep 2021
Matillion Reaches Unicorn Status with the completion of $150 million Series E fundraising round, led by General Atlantic.
This is a very exciting moment for Matillion, as it values the company at $1.5 billion. All at ICON are delighted to see this company achieve Unicorn status and very pleased to have played our part on the Series A and always a pleasure to see the potential of an early stage tech business deliver on the global stage – big congrats to Matt Scullion and his team.
The latest funding follows accelerated growth as Matillion platform fuels cloud analytics, AI and machine learning in large global enterprises
Matillion, a leading cloud data integration platform, today announced $150M in Series E funding, led by General Atlantic, a leading global growth equity firm, with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners, and Lightspeed Venture Partners. This funding marks Matillion’s second triple-digit round of 2021, bringing the total amount raised to $310M at a valuation of $1.5B.
The average enterprise uses more than 1,080 different data sources in its analytics program. Even as cloud data platforms such as Snowflake, Amazon Redshift, and Databricks become central to modern data architectures, enterprises struggle to collect, synchronize and transform their data for analytics, AI and ML programs. Traditional and other methods are primitive and slow, relying heavily on hand-coding and placing the burden of enterprise data preparation on a few workers. This creates information gaps within the organization and limits critical insights. Matillion unlocks the data supply chain, accelerating time to value by delivering a data operating system that integrates and manages data at scale. This allows enterprise data teams to work together to source, enrich and share data, enabling the rapid and data-led decision-making required to compete and win in today’s digital economy.
“Enterprises need to effectively close information gaps by rapidly transforming operational data into analytics-ready datasets that fuel business intelligence, AI, and ML innovation,” said Matthew Scullion, CEO of Matillion. “With Matillion, large organizations are empowered with a data operating system that is purpose-built for the enterprise, enabling a broad spectrum of data users — from data scientists and engineers to marketers and business analysts — to make data useful.”
Coming off of its Series D round in February, Matillion has delivered accelerated growth in 2021, including recognition by Snowflake as its FY2021 Technology Partner of the Year for Data Integration and by Databricks for an ISV Innovation Award, as well as the launch of its new product, Matillion ETL for Delta Lake on Databricks. The company also earned the Great Place to Work Certification, with 94% of its UK employees and 91% of its U.S. employees stating that Matillion is a great place to work.
“As organizations look for ways to harness data to make better business decisions, the market for cloud data integration and transformation is expanding,” said Chris Caulkin, Managing Director and Head of Technology for EMEA at General Atlantic. “We believe that Matillion’s low-code ETL platform simplifies the process of constructing data pipelines and preparing data for analysis, enabling citizen data scientists and data engineers alike to play a valuable role in extracting data-based insights. We look forward to supporting the team through its next phase of growth and expansion.”
Hundreds of large enterprises including Western Union, FOX, Sony, Slack, National Grid, Peet’s Coffee and Cisco use Matillion’s cloud-native, low-code/no-code solutions to transform raw data into an analytics-ready asset, ready to power business intelligence, visualization, artificial intelligence, and machine learning projects.
“Global data teams are being tasked to support digital transformation journeys within their organizations and look to low-code, cloud native solutions to accelerate the delivery of business results,” said Frederick Wright, US Director, UK Senior Manager, Enterprise Architect – Integration & Analytics at National Grid. “Matillion enables enterprises like ours to increase our usage of analytics and drive greater understanding within our business.”
The transaction is subject to approval by the relevant competition authorities and further customary conditions.
Matillion makes the world’s data useful with an easy-to-use cloud-native data integration and transformation platform. Optimized for modern enterprise data teams, only Matillion is built on native integrations to cloud data platforms such as Snowflake, Delta Lake on Databricks, Amazon Redshift, Google BigQuery, and Microsoft Azure Synapse to enable new levels of efficiency and productivity across any organization. Learn how Matillion delivers rapid returns on cloud investments for global enterprise customers at www.matillion.com.