The world is pivoting to data–it is the new currency, and it’s already changing how we work, live and play, and has the potential to do so much more. At Matillion, we want to help the world reach the full potential of data with modern analytics and are excited for what that will bring. That is the shape of the dent we are trying to make in the universe, and the motivation behind creating and continuing to innovate with cloud-native data integration.
Today, we have taken another giant leap toward helping us all realize the potential that data has to change our lives. I’m excited to announce the completion of our $150 million Series E fundraising round, led by General Atlantic. This is a very exciting moment for Matillion, because it values the company at $1.5 billion and gives us the elusive “unicorn” status. But more importantly, it gives us the means and the energy to accelerate the growth of our company and our products to achieve some pretty lofty goals.
The world has a data problem
We know data has the potential to change the world. We see all of the amazing artificial intelligence (AI) use cases, machine learning (ML) successes, and improved business operations born from analytics data at our fingertips. But the truth is, to be successful, we need a steady supply of raw materials to those products. And as of today, the pipeline of useful, analytics-ready data is materially constrained. And that’s a big problem. Because it means the ability to deliver on the promise of data is also constrained.
We’ve been in this place before–hundreds of years ago. Think about iron and steel. Iron ore is an incredibly valuable raw resource that we now refine into steel without so much as a second thought. But at one point in history, it was a resource with potential, but limitations. There were piles of iron ore, and no shortage of demand. We wanted it because we could refine it in small batches for tools and sharp swords. Skilled artisans could do that for us. But those artisans could only work so much, and go only so quickly. We only started building bridges and ships with iron and steel once we figured out how to refine iron ore into steel, at scale, with repeatable processes. It was no longer the domain of a small population of artisans. Not only could we widen the supply pipeline to meet demand, it could help us do things we could never achieve before.
Building the ultimate data refinery
I don’t just bring this up because I live in Manchester, the birthplace of the Industrial Revolution and a therefore a city built on iron and steel . It’s directly relevant to the challenges we face today with data. The pile of data is huge and just keeps getting bigger. Everyone wants better analytics, AI, and ML, the tools that will improve business. But we can only create a small amount of useful data (our version of “steel”) because there are only a small number of highly technical “artisans” with the right coding skills. We’re in the iron age. We need a way to refine data at scale, and we need a way to widen the aperture of people who can refine and use that data beyond a small and rarified group of specialists.
Helping large enterprises bring more data to more people
The challenge of meeting demand with a steady supply of useful data is particularly acute in large enteprises. First of all, the financial stakes are higher. If you improve and scale the process, there are millions of dollars to be made or saved.
Also, in a large enterprise, the data landscape is much more complicated. In a smaller, technically focused organization, you may have a manageable number of modern data systems. In a Fortune 500 company, you have over 1000 systems of different shapes, sizes, and vintages.
There’s also a vastly different availability of skills. In a tech startup, there are a lot of artisans. Data-savvy individuals make up a much larger proportion of the workforce. But if you’re a large manufacturing, retail, life sciences, or financial services company, most of your people are focused on making machines, selling them, and running the operations of the company. The ratio of data professionals to total headcount is much lower.
So when faced with refining data at the scale they need to compete and innovate, these companies face the most hurdles, and have the most to gain.
A data operating system that keeps the supply chain flowing
So what is the enterprise steel refinery for data? It’s a cloud data integration platform that acts as a data highway, a data operating system if you will. This platform widens the pipeline to increase the supply of data for organizations and keep it flowing, to keep up with business intelligence, AI, and ML demands. In order to be successful for the world’s largest organizations, this platform:
- Must have serious enterprise chops. It needs to live inside the infrastructure, have security and audit capabilities, and the ability to connect to all enterprise systems.
- Needs to be cloud-native, leveraging the speed and scale required to keep up with a mountain of diverse, dynamic, and distributed data.
- Absolutely must be usable by a wider aperture of user personas than the data artisans: Not just data engineers, but data scientists, business intelligence developers, ETL developers, database administrators, marketers, and business analysts across the business. That’s the fastest, most sure path to change how we live, work, and play using data.
That’s the platform that Matillion has built–it does all of these things. It’s built for the enterprise and the cloud. It’s a low-code/no-code/code-optional platform that is intuitive and powerful, that more people can use. But we’re not stopping there. We want to do more.
Why continue to accelerate and build upon our products? Because this megatrend of megatrends–the need to fulfill the promise of data and use it to improve the way we work, live, and play–is creating a loud sucking sound as data gets stuck in bottlenecks and isn’t available when and where we need it.
The world needs a platform that makes all data useful. And this round of funding gives us the capital to further accelerate our platform. We have a world-class cloud data integration platform. But a complete data operating system has a large surface area. It’s more than load, or transform, or sync, or streaming. That’s all part of it. But over time, the operating system also needs to even better support data ops. It needs to help data science. AI and ML go faster. It needs to be even more easy to manage and scale. We want to build out that complete operating system. We’ve built the leading cloud data operating system for the enterprise. We want to continue to build, expand, and improve it even further.
Seizing the opportunity
Matillion has an opportunity to solve the world’s data problem. General Atlantic is a top-tier investor who thinks it can be done, along with the other investors in this round, Lightspeed Venture Partners, Battery Ventures, Sapphire Ventures, and Scale Venture Partners. We understand the need of large enterprises to put more data to work for more people across the business. We have the technology, the economic resources, and the partnerships to help make that happen.
And we have a great team. At Matillion, it’s all about the team, whose ambition to build a great product and solve this problem has allowed us to accelerate through the pandemic and culminate in this moment.
We’ve built the data operating system for the enterprise and the cloud. And we’ve built a great company in the process. But we’re just getting started and we’re excited to continue with you on this wonderful journey.
How can Matillion help your enterprise do more with data?
Read more about the Series E funding announcement here. To learn more about how Matillion can unlock the power of data in your business, get a demo.