North West cloud company raises $20m in funding round
Matillion has raised $20m in a funding round, led by Sapphire Ventures.
The Altrincham-based makers of cloud integration tools confirmed the closing of the series B round of funding, which will be used for “accelerated growth” and product development.
Those participating in the round include new investor, Scale Venture Partners and existing investor UK-based YFM Equity Partners.
“Matillion offers a truly differentiated product in a fast-emerging new category. Cloud-based data integration is being adopted by SMBs and large enterprises alike, constituting a large market,” said Andrea Weiskam, Sapphire Ventures.
“Matillion is well positioned to grasp this opportunity with a unique product set that is easy to adopt and has an intuitive UI and attractive usage-based pricing model. We are excited to work with Matthew [CEO] and the Matillion team, to help them take the next steps in hiring, scaling and growing their US presence.”
The cash will be invested across sales, marketing, partnerships and R&D and brings the company’s total funding to in excess of $26m.
Andreas Weiskam, managing director, Sapphire Ventures, and Andy Vitus, partner, Scale Ventures Partners, will join the board of directors.
“Cloud-based data warehouses, like Amazon Redshift, Snowflake and BigQuery, are changing the game in data analytics, reducing cost, time-to-value and increasing the power available to businesses to load, transform and analyse their data,” said Matthew Scullion, chief executive officer, Matillion.
“The thousands of new projects and workloads this creates is in turn driving rapidly increasing demand for our built-for-the-Cloud, ELT architecture, data integration tools, as companies want and need to complete with data, quickly and at any scale”
As well as its Altrincham head office, it also has a base in Manhattan.