Matillion Announces $100 Million Funding to Deliver on Growing Enterprise Demand for Cloud Data Integration
Latest Funding Led by Lightspeed Venture Partners Accelerates Global Adoption of Leading Platform, Empowering Modern Data Teams to Deliver Analytics-Ready Data
Denver and Manchester, England – February 16, 2021 – Matillion, the leading cloud data integration platform, today announced $100M in Series D funding, led by Lightspeed Venture Partners with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners with financing from Silicon Valley Bank UK Branch*. The funding will fuel the company’s growth, as it meets exploding demand for cloud data integration for global enterprise organizations such as Amazon, Siemens, Subway, Novartis, Slack, and Accenture.
Matillion solves a key challenge for the enterprise, helping them overcome the struggle to capture and innovate with data to quickly unlock the insights they need. A recent MarketPulse survey by IDG and Matillion found data teams spend nearly half their time preparing data for analytics. Matillion’s cloud-native platform enables enterprise organizations to transform raw data into the refined, analytics-ready data required to support business intelligence, visualization, artificial intelligence and machine learning. The company’s data integration platform accelerates time to value with cloud data platforms, such as Snowflake, Amazon Redshift, and Databricks, by delivering powerful and easy-to-use low-code/no-code solutions for a wide range of data professionals.
“Modern data teams are facing an influx of data from across the enterprise, while under immense pressure to rapidly deliver the actionable insights required to compete in today’s digital economy,” said Matthew Scullion, CEO of Matillion. “Simply put, Matillion makes data useful. Matillion accelerates the value of today’s cloud data platforms, ensuring that data teams can work smarter and faster. We look forward to our next phase of growth, as we empower more enterprise customers with efficient, affordable and flexible solutions that turn data into their most strategic asset.”
Matillion’s low-code and no-code platforms allow for the democratization of data innovation inside hundreds of mid-to large-size enterprises across the globe. Matillion has increased productivity and improved time-to-insights for its customers:
- Cisco Cloud Security saw an 84% reduction in ETL application spend
- Slack reduced the time needed to create critical revenue metrics from up to 6 hours to just 30 minutes, using Matillion ETL and Snowflake
- DocuSign reduced the time required for long-running jobs from over 22 hours to just 6 hours
- Uberflip reduced data prep from five weeks to one day, achieving near real-time product data analysis with Matillion ETL for Snowflake
“The public cloud market provides enterprises with an enormous opportunity to make data-driven decisions through near-instant access to insights. Snowflake’s Data Cloud and Matillion’s platform are trusted to support enterprises in cloud modernization projects that enable data innovation and unlock data access,” said Colleen Kapase, VP of Worldwide Partners and Alliance at Snowflake. “Matillion is a key component of the modern cloud data tech stack, helping businesses to quickly load and transform their data using the full power of elastic cloud compute.”
“Matillion has emerged as a preferred choice for enterprise cloud ETL and ELT solutions. While legacy providers are failing in a cloud-first world, Matillion has accelerated the broader enterprise cloud migration trend and redefined the standard for modern data integration and transformation,” said Rytis Vitkauskas, Partner at Lightspeed. “Today, for every five dollars spent on cloud warehousing, companies also spend on average a dollar on cloud-first ETL, creating what effectively is a new $10B+ market. We’re proud to lead Matillion’s Series D and partner with Matthew and his team as they continue to scale and deliver rapid returns on cloud investments for global enterprises.”
Matillion was recognized in the 2020 Gartner Magic Quadrant for Data Integration Tools and named a Top Rated Data Integration Tool in 2020 for the second year in a row by TrustRadius, based on unbiased customers’ user satisfaction scores. In 2020, it increased the investment in enterprise product and engineering, extended support for the Snowflake user community with Matillion ETL and Matillion Data Loader on Partner Connect, and launched Matillion ETL for Azure Synapse, and Matillion ETL for Databricks. In recent months, the company has continued to expand its executive team with the addition of key customer-focused roles including Chief Customer Officer Shannah Van Winkle, and Chief Product Officer Ciaran Dynes as well as Chief Financial Officer Kenneth Paqvalen and Chief Revenue Officer Barrett Foster.
For further data transformation industry updates and perspectives, follow Matillion on Twitter @Matillion and LinkedIn at https://www.linkedin.com/company/matillion-limited/. Learn more about the success Matillion customers have achieved at https://www.matillion.com/resources/case-studies/.
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.
About Lightspeed Venture Partners
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, and Health sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 400 companies globally, including Mulesoft, Informatica, Datorama, AppDynamics, Nutanix, Grafana, Snap, Affirm, GrubHub, Personio, and Vinted. Lightspeed and its affiliates currently manage $10.5B across the global Lightspeed platform, with investment professionals and advisors in Silicon Valley, Israel, India, China, Southeast Asia and Europe. www.lsvp.com
*Lightspeed Venture Partners and with financing from Silicon Valley Bank UK Branch, join Battery Ventures, Sapphire Ventures, Scale Venture Partners and YFM Equity Partners as investors in Matillion.