Matillion, a cloud data integration platform based in Manchester, UK, on Tuesday closed a US$100 million Series D funding round from five investors led by Lightspeed Venture Partners.
Investors participating in the funding include UK Silicon Valley Bank, Scale Venture Partners, Sapphire Ventures and Battery Ventures. Thus, Matillion has raised a total of US$160.6 million in funding.
The growing funding proves that Matillion is accepted by the market and considered potential by investors. Especially since last year, many companies have implemented remote work due to the pandemic, so they need a cloud.
Matthew Scullion, founder and CEO of Matillion, says that now it’s not just innovators and early adopters who are moving data to the cloud, it’s all companies. “Across all companies, the need and desire to modernize has increased dramatically,” he said.
Since its founding in January 2011, Matillion has helped more than 500 large companies across industries accelerate data processing. Slack, for example, can reduce the processing time for revenue metrics from 6 hours to just 30 minutes.
Cisco was able to save about 84% in extract, transform, and load (ETL) application expenses by switching to Matillion ETL and Informatica. Siemens, Subway, Novartis, and Amazon are also Matillion clients to manage their data in the cloud.
“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 Venture Partners.
Having said that, Scullion says, it’s an amazing time to be in Matillion, both as a customer and an investor. Not only in Manchester, Matillion currently has three offices in the United States, namely New York, Denver and Seattle.