Trifacta, a start-up specialized in clearing the clutter in corporate data, announced it managed to raise $100 million in funding earlier this week. One of the key investors in the new venture is BMW i Ventures, a sub-division of BMW tasked with finding the most interesting up-and-coming companies out there. BMW wasn’t alone though, the Trifacta attracting other investors as well such as Dutch Bank ABN Amro, Telstra Ventures and others.
Continue Reading Below
The money will be used to accelerate the company’s expansion into new product and geographic areas. However, BMW will most likely be interested in their current product. As car makers are striving to bring out autonomous driving tech, they will have to gather huge amounts of data, which can be cluttered at times. This is where Trifacta comes in, helping sort things out so that researchers can develop technologies faster.
“As we face an exponential growth in big data—from machines in our factories to connected cars on the road—we believe that Trifacta’s data prep solution will be key to accelerating the feedback loop between the hordes of data produced everyday and the types of insights and actions taken by large organizations,” said Marcus Behrendt, partner, BMW i Ventures. “Trifacta’s toolset is key to harvesting the data lakes and is therefore an enabler when shifting to a truly digital organization.”
According to a BMW press release, Trifacta’s unique combination of human-computer interaction, machine learning & scalable data processing guides users through the process of exploring and preparing data. By democratizing the data wrangling experience, Trifacta empowers technical data scientists and engineers as well as non-technical business analysts to work beyond data silos to deliver quality outputs with greater efficiency to downstream analytics initiatives.
“AI, machine learning and analytics have become the primary growth opportunities for the cloud today. Yet, it’s this meteoric growth that is causing barriers to success as AI projects overwhelmingly face the same problem — data quality,” said Adam Wilson, CEO, Trifacta. “As the pioneers in data wrangling, Trifacta offers the leading platform for managing data quality, preparation and pipelines that is natively integrated with all of the major cloud providers. A growing number of industry-leading organizations, including technology pioneers such as IBM and Google are choosing Trifacta to remove the critical barrier data wrangling presents to success with analytics and machine learning;.”