Matillion Raises $20M from Sapphire Ventures and Scale Venture Partners
Matillion Raises $20M from Sapphire Ventures and Scale Venture Partners
Sapphire Ventures led the round with new investor Scale Ventures Partners and existing investor YFM Equity Partners participating; funding to be used for accelerated growth and product development
ALTRINCHAM, United Kingdom, March 22, 2018 /PRNewswire/ -- Matillion, the makers of cloud data integration tools Matillion ETL for Amazon Redshift, Matillion ETL for Snowflake and Matillion ETL for Google BigQuery, today announced it has closed a $20 million Series B round of funding led by Sapphire Ventures, who funds category-leading growth technology companies. Round participants also included new investor Scale Venture Partners, and existing investor, UK-based venture capital trust, YFM Equity Partners. The funding will accelerate the company's leadership in the cloud data integration category.
Today's funding will be used to expand Sales, Marketing, Partnerships and Research and Development (R&D) to meet increasing demand and further accelerate development of the Matillion ETL product line. The round brings the company's total funding to over $26 million. In addition, Andreas Weiskam, managing director, Sapphire Ventures, and Andy Vitus, partner, Scale Ventures Partners, will join the Board of Directors.
"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 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 and the Matillion team, to help them take the next steps in hiring, scaling and growing their US presence."
"With the massive secular shift in data warehousing technology, the ability to connect various data sources to a central cloud repository is business critical and this is exactly the problem Matillion is solving," said Vitus, Scale Venture Partners. "Matillion's cloud-native ELT tools makes loading and transforming data in the cloud data warehouse fast, easy and affordable, setting them up to be the leader in the space."
"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. 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 compete with data, quickly and at any scale," said Matthew Scullion, chief executive officer, Matillion. "This round of funding is an exciting opportunity for us to work with the fantastic teams at Sapphire Ventures and Scale Ventures Partners to meet the needs of our customers and partners as well as further accelerate the pace of innovation going into our products."
Snowflake's Vice President of Alliances, Walter Aldana said, "Congratulations to Matillion for securing an additional round of venture funding, which will help advance the Snowflake-Matillion partnership. Because our technologies align so well, Snowflake and Matillion will continue to expand our joint go-to-market strategy of delivering enterprises a platform to easily load, transform, integrate and analyze all of their available data in a fraction of the time. By increasing our commitment to our joint customers, enterprises can focus on analyzing their data, not managing it."
The company, based in Altrincham, (Manchester, UK) and Manhattan (New York, US), was founded by Scullion in 2011, alongside Chief Technology Officer Ed Thompson and Commercial Director Peter McCord. Matillion has developed leading-edge software focused on allowing its customers to extract, load and transform data into and on cloud-based data warehouses, quickly and at scale.
In the last 12 months the company has seen significant commercial traction with annual recurring revenue of growth over 260%. Matillion's software is used by more than 250 customers across 30 countries, including global corporates, such as GE, Siemens, Citrix and Accenture, as well as high growth, data-centric companies like Vistaprint, Zapier, DocuSign and Upside Travel.
To learn more about Matillion, please visit www.matillion.com.
About Matillion
Matillion is a software company that offers purpose-built, native ELT solutions for cloud data platforms. Our products are designed and developed for fast-growing, tech-savvy, and intelligence- and data- driven companies that are leveraging the cloud to gain insights.
About Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to enable its portfolio companies to scale rapidly. Whether entrepreneurs sell to businesses, consumers or both, Sapphire Ventures offers a powerful platform for business development and operational excellence to help them accelerate growth. With $2.5 billion under management via direct growth investments and early-stage fund investments, Sapphire Ventures is positioned to elevate companies to the global stage.
About Scale Venture Partners
Scale Venture Partners (@scalevp) invests in software companies that are transforming the future of work. Investments include: Box (BOX), Chef, Cloudhealth, DataStax, Demandbase, DocuSign, ExactTarget (ET), HubSpot (HUBS), JFrog, Lever, and WalkMe. ScaleVP partners with entrepreneurs to support accelerated growth from the first customer to market leadership. Founded in 2000, ScaleVP has over $1 billion under management and is located in Silicon Valley. For more information visit www.scalevp.com.
CONTACT: scalevp@bateman-group.com
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SOURCE Matillion
