Trifacta, a Data Transformation Platform provider, today announced that it has closed a $25 million Series C financing round. The round is led by new investor Ignition Partners and includes existing investors Greylock Partners and Accel Partners. As part of the investment, Frank Artale, Ignition Partners managing director also joins the Trifacta board. Coming just 6 months after the Series B, the Series C highlights how quickly demand is driving the market for purpose-driven data transformation.
The latest financing round will be used to expand marketing and sales efforts and allow Trifacta to reach more companies augmenting traditional single-source-of-truth data integration with agile purpose-driven data transformation. Traditionally, the labor intensive work of transforming data from a raw form into a form ready for analysis can consume as much as 80 percent of the data analysis process. Trifacta allows users to transform data much more productively and as much as ten times more efficiently.
“Communicating ideas with data is becoming the way enterprises work. Trifacta offers the first solution that enables people across disciplines in organizations of any size to transform data intuitively. With Trifacta’s platform, users can live in their data, much like some knowledge workers live in spreadsheets and even email,” said Frank Artale, partner at Ignition Partners. “At Ignition, we’ve recognized that data transformation is a growing hurdle for Big Data—enterprises are bottlenecked in their Hadoop deployments without Trifacta. We are excited to back Trifacta’s platform with its ability to empower data-driven enterprises.”
Data transformation is evolving into a space separate but complementary to traditional ETL (extract transform load). Traditional ETL builds carefully-governed pipelines to feed an enterprise data warehouse, primarily for accountability reporting. Data transformation creates a more agile environment where data analysis revolves around a rich integration of the people who do analysis with technologies that facilitate their daily work. Trifacta’s Predictive Interaction technology combines lightweight user interactions with advanced machine learning intelligence to elevate data transformation to a visual and intuitive experience. With Trifacta’s solutions, data scientists, IT developers, and business analysts can repeatedly repurpose data and improve business processes.
“Business context is changing rapidly today, as competitive enterprises continuously exploit data to evolve their business processes. The ability of enterprises to successfully transform data is critical to ensuring a healthy cycle of data-driven improvement across people and teams within an organization,” said Joe Hellerstein, CEO of Trifacta. “We’re excited to have Ignition join our stellar team of investors and look forward to helping more enterprises work with their data with greater agility.”