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Cloud Data Analytics Startup Matillion Raises $100 Million | Technology News


(Reuters) – Matillion, a startup that helps companies sort and clean up data before sending it to the cloud data center for analysis, said on Tuesday it had raised $100 million in its latest funding round but declined to share the firm’s valuation.

Venture capital firm Lightspeed Venture Partners, an early investor in messaging app Snapchat.com, was the lead investor in the funding round, according to Lightspeed and Matillion.

Matillion Chief Executive Matthew Scullion told Reuters that the company’s platform is made for people with no coding skills to be able to pull various sources of data together and organize it, reducing the time it takes to prepare the data for analysis.

A shortage of coders at a time when business is quickly moving to a digital and cloud model is creating a need for more no-code technology, and venture capital funds are increasingly pouring money into those startups. 

(Reporting By Jane Lanhee Lee in Oakland, California; Editing by Ana Nicolaci da Costa)

Copyright 2021 Thomson Reuters.



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