Manchester-based cloud聽data software pioneer Matillion has closed a $20 million Series B round of聽funding led by Silicon Valley investors Sapphire Ventures and Scale Ventures Partners.
The round brings the company鈥檚 total funding to over $26 million.
Sapphire Ventures MD Andreas Weiskam and Andy Vitus, a partner at聽Scale Ventures Partners, will join the board of directors.
The company is responsible for creating cloud data integration tools such as Matillion ETL for Amazon Redshift, Matillion ETL for Snowflake and Matillion ETL for Google BigQuery.
Funding round participants also included聽UK-based venture capital trust YFM Equity Partners, an existing investor.
The funding will accelerate the company鈥檚 leadership in the cloud data integration category.
It will also be used to expand sales, marketing, partnerships and research and development聽to meet increasing demand and further accelerate development of the Matillion ETL product line.
鈥淢atillion offers a truly differentiated product in a fast-emerging new category,鈥� said Weiskam.
鈥淐loud-based data integration is being adopted by SMBs and large enterprises alike, constituting a large market.
鈥淢atillion 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.
鈥淲e are excited to work with Matthew [Scullion, founder] and the Matillion team, to help them take the next steps in hiring, scaling and growing their US presence.鈥�
Vitus said: 鈥淲ith 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.
鈥淢atillion鈥檚 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.鈥�
The company, based in Altrincham and Manhattan, 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 per cent.
Matillion鈥檚 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.
Matillion was advised by the Manchester office of leading commercial law firm Shoosmiths, led by corporate partner Karen Procter and venture specialist partner Steve Barnett in London and assisted by Ben Dredge.
Arma Partners, an independent corporate finance adviser, also acted for the company.