附近上门

Cloud data integration platform has raised a $100 million Series D as it looks to take advantage of new large verticals shifting to the cloud.

Subscribe to the 附近上门 Daily

The round was led by with participation from , and , as well as financing from 鈥檚 U.K. branch. The company now has raised $165 million, according to CEO .

Matillion鈥檚 platform helps companies move data to large cloud warehouses such as , and then transform that data so it easily can be digested and deployed, Scullion said.

鈥淲e make the world鈥檚 data useful,鈥� he said. 鈥淎nd everyone needs to compete using data.鈥�

Pivoting

Founded about a decade ago, Matillion initially built and maintained the data warehouses itself, Scullion said, adding that in 2015, the company pivoted after seeing the need to load and transform data.

The pivot seems to have paid off for the company. While Matillion 鈥� which is co-headquartered in Denver and Manchester, England 鈥� does not release financials, Scullion said the company experienced strong growth in 2020 as there was a large acceleration to the cloud and many new verticals with large enterprises undergoing digital transformations.

Matillion now has more than 1,000 customers, including , and . Its largest verticals include finance, health care and retail, Scullion added.

Market Opportunity

It is estimated nearly 20 cents on every dollar spent on large cloud platforms like Snowflake go to middleware players such as Matillion, Scullion said. If that is the case, the 261-person company competes in a market that likely is worth more than $16 billion against many older companies such as and that are not cloud native, he added.

, a partner at Lightspeed Venture Partners, said one of the reasons Matillion is an attractive investment is the fact it is cloud native, separating itself from some of those older competitors.

鈥淥ne of the elements that convinced us to double down on Matillion was the realization that the market scope for ETL (extract, transform, load)聽is being redefined by enterprise cloud migration,鈥� Vitkauskas said.

鈥淢atillion is positioned as a clear leader in this market, and is well on its way to become an enduring, generational impact business,鈥� he said.

Illustration: .