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US data tech company Trifacta rakes in $100 mn in recent funding round

TrifactaSan Francisco-based Trifacta, a data wrangling platform, on Thursday, announced the completion of a funding round raising $100 million in total. The round was funded by investors including Telstra Ventures, Energy Impact Partners, NTT DOCOMO Ventures, BMW i Ventures, and ABN AMRO Digital Impact Fund.

Additional investment came from existing investors including Accel Partners, Cathay Innovation, Google, Greylock Partners, Ignition Partners, and Infosys.

The new capital will be directed towards the adoption of Trifacta’s data wrangling platform, which provides a self-service approach to cleaning and preparing data, according to a statement. The investment is also expected to accelerate the company’s expansion into new geographies, new verticals, and product areas.

“We see Trifacta as a key enabler that significantly reduces the time and cost to refine raw data. This will help us foster a collaborative data culture that accelerates the creation of new value, based on data,” Marcel Kramer, Head of Data Engineering, at ABN AMRO, one of the investors commented.

Sameer Reddy, partner at Energy Impact Partners, another investor from the round added,  “Artificial intelligence and the ever-increasing availability of data has the potential to revolutionize and improve our quality of life, but only to the extent that we can make this data usable. Trifacta’s data wrangling platform is helping analytics and business teams unlock critical new use cases to empower more resilient cities, intelligent transportation, and cleaner energy.”

The platform manages data through a combination of human-computer interaction, machine learning, and scalable data processing. More than 10,000 organizations around the world use Trifacta to democratize data wrangling, the statement added.

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