US software giant Databricks invests in cloud data firm Matillion
The investment arm of US software giant Databricks, have taken a stake in a cloud data firm in Greater Manchester, Matillion.
Databricks ventures has backed in the Altrincham company but declined to reveal the amount invested or the size of the stake.
The venture was launched towards the end of 2021 by the giants of data and AI, Databricks with an aim to “foster the next generation of innovation and technology harnessing the power of data and AI”
Matillion created hundreds of jobs as it received more than $200 Million in extra funding during it’s last financial year.
They employed 449 people by the end of the yearto January 31, 2022, compared to 213 only 12 months earlier.
The increase came as the business closed a series D fundraising round totalling $80m in February 2021 and a series E round totalling $150m a few months later.
Matillion’s turnover also rose from $29.9m to $57.2m but its pre-tax losses widened from $11.8m to $31.6m.
Its turnover in the UK increased from $2.4m to $5.5m and from $4.8m to $9.8m in Europe.
It jumped from $19.8m to $36.5m in the US and from $2.7m to $5.3m in the rest of the world.
On the new investment, Andrew Ferguson, VP, corporate development and ventures at Databricks, said: “We welcome Matillion to the Databricks Ventures portfolio and look forward to deepening our partnership with their team.
“Matillion’s code-optional data ingestion and transformation capabilities are purpose built for Databricks and allow our joint customers to quickly build data pipelines and seamlessly collaborate on the Databricks Lakehouse Platform.”
Databricks Ventures’ portfolio already includes Alation, Hunters and Labelbox.
Matthew Scullion, CEO and co-founder of Matillion, added: “To unleash the full potential of their cloud data, teams need to achieve new levels of productivity with their data using open, scalable technology.
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