ABN AMRO Digital Impact Fund invests in data tech company Trifacta
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ABN AMRO Digital Impact Fund (DIF) has acquired a stake in Trifacta, the US-based market leader in data wrangling. The Trifacta technology enables companies to manage their data quality, preparation and pipelines through a platform that is natively integrated with all major cloud providers, removing the critical barrier data wrangling presents to success of analytics and machine learning.
One of the biggest challenges facing today’s companies is to make data usable for analysis. Without usable, clean and structured data, it is impossible to effectively apply new technologies, such as machine learning and artificial intelligence, in a cloud environment.
Trifacta is the market leader in the world of data wrangling. With an exponential amount of data moving to the cloud, more data quality, preparation and pipeline workloads are moving there as well, causing an increased need to derive faster insights and deliver bottom line business results. Through a unique combination of human-computer interaction, machine learning and scalable data processing, Trifacta offers a cloud-native solution to companies that wrangles data from various sources so that companies can make critical business decisions.
Hugo Bongers, Director of ABN AMRO DIF: “Trifacta’s solutions offer big opportunities to companies in many sectors whose future lies in working in a data-driven manner. It’s no wonder market analysts at Forrester and Gartner give the firm a top listing in their sector. With this investment, we’re once again adding a prominent data and tech company to our portfolio and strengthening our position in the ecosystem of leading global investors in the tech sector.”
The investment in Trifacta is the ninth investment of ABN AMRO DIF, which invests in innovative companies that are digitising financial products and services. The fund is EUR 50 million and has interests in Thetaray, Tealium, Tink, BehavioSec, solarisBank, Ockto and Crosslend. It also previously invested in Cloud Lending Solutions (exit in 2018).