BMW's venture capital fund, i Ventures, has announced an investment in Trifacta, a data wrangling specialist.
It said the new capital will accelerate the company's continued expansion into new geographies and product areas, in particular expanding upon the company's use of intelligent automation throughout the platform.
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Trifacta says it leverages research in human-computer interaction, scalable data management and machine learning to 'make the process of preparing data faster and more intuitive'. It says customers such as Deutsche Boerse, Google, Kaiser Permanente, New York Life and PepsiCo, are 'unlocking the potential of their data with Trifacta's market-leading data preparation solutions'.
"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 organisations," 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."
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.
"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."
By democratising the data wrangling experience, Trifacta says it 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'.
