ABN Amro's Digital Impact Fund has acquired a stake in US data wrangling outfit Trifacta.
The Trifacta technology enables companies to manage their data quality, preparation and pipelines through a platform that is integrated with all major cloud providers. The firm uses a combination of human-computer interaction, machine learning and scalable data processing to produce usable, clean and structured data for analysis.
The company won its first contract in Japan in February with Sumitomo Mitsui Bank after field tests demonstrated that it would be possible to cut the work times for data preparation by around 80%.
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. 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.”
Trifacta is the ninth firm to join ABN Amro's DIF portfolio. The fund is EUR50 million and has interests in Thetaray, Tealium, Tink, BehavioSec, solarisBank, Ockto and Crosslend.
ABN Amro's investment in Trifacta is part of a $100 million capital raise for the firm in a round led by Telstra Ventures and including Energy Impact Partners, NTT DOCOMO, and BMW i Ventures.