Data management startup Matillion Ltd. today announced that it has closed a $100 million round of funding led by Lightspeed Venture Partners.

Battery Ventures, Sapphire Ventures and Scale Venture Partners participated as well, along with the U.K. branch of Silicon Valley Bank. Matillion has raised more than $160 million in venture funding including this latest investment. 

Based in Manchester, U.K., and Denver, Matillion provides a cloud-native “extract, transform, load” or ETL service that can pull data from corporate systems of record into analytics tools to help enterprises extract useful insights. The startup says that the service is used by more than 500 companies, including Cisco Systems Inc. and Slack Technologies Inc.

For large enterprises, moving data to an analytics environment can be a challenge because the native format in which the data is stored isn’t necessarily supported by their analytics tool of choice. That means the information often has to be modified before it can be processed. The more data sources are required for an analytics project, the more work is involved in readying the information for analysis.

Matillion’s ETL service speeds up the task by providing pre-packaged connectors for importing information from business applications. The service works with popular databases, as well as software-as-a-service platforms such as Salesforce. For added measure, Matillion has a drag-and-drop tool that enables companies to build a custom connector if the system from which they wish to import data isn’t supported out of the box.

After extracting the necessary records, Matillion enables companies to load their information into popular cloud analytics platforms such as Snowflake, Amazon Redshift and Google Cloud’s BigQuery. The service is also capable of modifying the data before it’s transferred so as to ease processing. For example, if a company is building a sales analytics dashboard, its developers can use Matillion to filter duplicate customer and transaction logs before they’re incorporated into the dashboard.

The startup says its technology is enabling measurable improvements in customers’ analytics initiatives. Matillion claims one client, Cisco’s Cloud Security group, managed to lower ETL-related application costs by 84% after adopting its service. Slack reduced the time it takes to generate certain internal revenue metrics from as much as 6 hours before to 30 minutes.

“Customers are using us any time when they want to compete with data: drive product development, or service their customers better, or in fact, become more efficient in the way they run their IT infrastructure, perhaps migrating an on-premise warehouse to the cloud,” Matillion Chief Executive Matthew Scullion explained in a 2018 interview on SiliconANGLE Media’s theCUBE studio (below).

Matillion plans to use the new $100 million in funding to grow its headcount to about 400 employees by year’s end.

Image: Matillion