Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Trifacta raises $100m for data handling of AI and cloud applications

Artificial intelligence (AI) company Trifacta has just secured $100 million in a new funding round, The Australian reported on Monday.

The investment was led by Telstra Ventures with participation by Google, BMW iVentures, Energy Impact Partners, NTT DOCOMO Ventures, ABN AMRO Digital Impact Fund, Accel Partners, Cathay Innovation, Greylock Partners, Ignition Partners, and Infosys.

Commenting on the news via a press release, Trifacta said the new funds will go towards accelerating the company’s expansion into new geographies and product areas, noting Telstra and NTT Docomo, in particular, will be instrumental in increasing customer success in the Asia Pacific region.

 “We want to work with some of Telstra’s customers that have a need for the Trifacta revolution. We have already had some discussions with customers who have some interest”, Matthew Koertge, MD of Telstra’s independent venture capital arm told The Australian.

Created in 2012 by Jeffrey Heer, Joe Hellerstein and Sean Kandel, Trifacta’s data platform uses AI and cloud computing technology to automate complex data engineering tasks and enable increased levels of self-service.

The company has so far raised an overall $224.3 million in funding and currently has tens of thousands of users at more than 10,000 companies, including Deutsche Boerse, Google, Kaiser Permanente, New York Life and PepsiCo.

Trifacta’s approach to data handling is also being targeted by a growing number of AI software vendors including IBM and Google Cloud.

These tech giant use Trifacta as their data preparation standard to remove the critical barrier of poor data quality affecting their customer’s AI and machine learning projects.

Image via Freepik on Flaticon.

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BY SHACK15

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