Trifacta, the global leader in data wrangling, announced $48 million in financing from new strategic investors, including Columbia Pacific, Deutsche Börse, Ericsson, Google, and New York Life along with participation from existing investors Accel, Cathay Innovation, Greylock Partners, Ignition Partners, and Ridge Ventures.
This brings Trifacta's total financing to $124 million to date.
Building on the company's more than 3x increase in customer count, the new funding will support continued development of Trifacta's award-winning data wrangling platform and accelerate the company's continued cloud and geographic expansion. According to IDC, the big data and business analytics market will be worth $210 billion by 2020, and the market for data wrangling technologies is anticipated to grow 2.5x faster than the market for traditional data preparation tools. In addition, Gartner reports1 that data preparation technologies will be used in more than 50 percent of new data integration efforts for analytics by 2020.
"Investing in and partnering with Trifacta, an innovator with its leading data wrangling offering, helps us expand our capabilities in data-driven areas such as risk management, investment decision making and trading analytics meaningfully," said Ankur Kamalia, MD & Head of Venture Portfolio Management and DB1 Ventures, Deutsche Börse.
"Trifacta's cutting-edge technology, client success and vision position the company for continued growth," said Paul McNamara, VP of Ericsson Ventures. "Ericsson is honored to invest with Trifacta to help drive further momentum in data wrangling that will help our telecommunications customers to get actionable insights and create business value from their data."
"At New York Life, we're keenly focused on new analytics technologies to enhance our speed to insight," said Joel Albarella, Head of New York Life Ventures. "As part of this effort, we're investing in Trifacta for its forward-thinking approach to data wrangling."
Accelerating Corporate Momentum in 2017
Trifacta continues to engage customers deeply around their most important business initiatives, dramatically shrinking the most tedious, expensive, and time-consuming part of the analytics process. Trifacta automates the discovery of new insights by helping users who know the data best stitch together complex data across transactions, interactions and behavior.
"Commerzbank is a leading international commercial bank and the second largest bank in Germany. As we embarked on creating a Big Data & Advanced Analytics division within Commerzbank, we knew that data wrangling technology would be a critical investment for its success; Trifacta was absolutely the right choice," said Kerem Tomak, EVP & Divisional Board Member, Big Data & Advanced Analytics at Commerzbank. "Easy to use and integrate across a broad range of employees, Trifacta is a core part of our efforts to accelerate our analytics projects. As a result this will help us expand our existing efforts around data quality, fast response to ad-hoc requests, big data analytics monetization for retail and corporate clients, and risk and compliance reporting."
Using the Trifacta platform, customers are able to balance the need for self-service and the need for data governance through collaborative curation and crowdsourcing of new data products. This makes the data understandable and useful for analysis regardless of where it lives or how it is consumed. Trifacta makes wrangling data fun, using an entirely new approach - attacking the problem through user experience and machine learning.
"Data is bigger, it's messier and it's changing faster than ever before. Solving for this requires customers to modernize their analytic stack to achieve better economics and improved agility. It has become essential to democratize the production of new data assets with self-service data wrangling in much the same way enterprises previously democratized the consumption of data with self-service BI," said Adam Wilson, CEO at Trifacta. "At precisely this moment, Trifacta offers a mature platform built for big data, cloud, and self-service. We also offer the credibility of being the pioneer and the established leader in the data wrangling market."
Additional company milestones from 2017 include:
• Drove significant customer adoption among industry leaders such as GlaxoSmithKline, Bank of America, Royal Bank of Scotland, Commerzbank, PepsiCo, eBay, Enstar, Deutsche Börse, Centers for Disease Control (CDC), New York Life, BNSF Railway Company, and Nordea Bank.
• Introduced significant product advancements to Wrangler Enterprise: Ensuring the success of broader enterprise deployments, Trifacta improved the platform's user experience and performance, and built functionality to support "groups and loops." Enhanced collaboration enables groups of Trifacta users to share work with their colleagues and build collective knowledge across teams; adding data wrangling flows, self-service scheduling and broader connectivity allows users to more effectively build loops out of their work through repeated use. End users are able to not only build their own wrangling workflows in Trifacta, but also automate pipelines and manage versions.
• Established leadership in cloud data wrangling: Trifacta delivered on the vision to make its data wrangling solution work seamlessly across hybrid and multi-cloud environments. Trifacta supports deployments in popular cloud ecosystems Amazon Web Services (AWS), Google Cloud Platform (GCP) and Microsoft Azure. The past six months have seen record growth for Trifacta's cloud offerings, which have been adopted by more than 10,000 users across over 200 accounts. Trifacta also launched Cloud Data Prep on GCP in conjunction with Google, and is now listed in the AWS Marketplace and featured as part of the AWS machine learning competency.
• Recognized as the No. 1 data preparation solution in every independent and analyst ranking: According to a Q1 2017 Forrester Wave report - Forrester's widely respected evaluation of vendors in a given market - "Trifacta delivers a strong balance for self-service and business users."2Dresner Advisory Services' End User Data Preparation Survey ranked Trifacta the No. 1 data preparation vendor of 2017, the third year in a row. In the Gartner Research Market Guide for Data Preparation, Trifacta demonstrated support in all of the established capabilities for "Data Transformation, Blending and Modeling," "Diverse Data Sources," and "Data Exploration."
• Added world's largest consulting and technology providers to partner ecosystem: In 2017, Trifacta greatly expanded the company's technology, systems integrator and consulting partner ecosystem. Trifacta announced integration and joint customer success with a number of leading data cataloging vendors including Alation as well as a number of leading data science platforms such as DataRobot. Trifacta is also now embedded as the data wrangling standard within the Infosys Information Platform (IIP), Leidos Collaborative Analytics and Data Sharing Platform (CAADS), and Wipro Data Discovery Platform (WDDP). In addition to this, FICO now offers Trifacta as a high-end wrangling option as part of the FICO Decision Management Suite.
• Expanded executive team: Trifacta continues to strengthen its executive team with the addition of proven industry leaders. Zarnaz Arlia has joined as vice president of marketing. Zarnaz was formerly with Neustar as the head of corporate marketing, responsible for the company's brand and marketing strategy as well as go-to-market initiatives. Prior to Neustar, Zarnaz held executive marketing roles at Qualys and Adobe. Bryan Plaster has joined as the vice president of customer success and services. Bryan was formerly the head of customer success for Talend and, prior to that, ran customer success for Informatica's cloud business. Yuri Bukhan has joined as the vice president of alliances. Yuri was formerly head of ISV alliances for Cloudera in addition to his broad experience in data and analytics at GoodData, Pentaho, and Tibco.