The Tredence, a data science and artificial intelligence (AI)-based company, has raised $175 million in a Series B round of funding from Advent International, but full financial terms of the agreement were not disclosed to the public. According to their statement, the fund will be used to “accelerate data-fueled growth” and “AI value realisation for industries.”
The Advent International will join Tredence’s board. Recently, some of Tredence’s information technology and information services investments are includes in Encora, CI&T, NielsenIQ, Neoris, Sophos Solutions, Aareon, Canvia, and QuEST Global Services.
According to the board meeting of Tredence’s an existing investor Chicago Pacific Founders (A private equity firm) is participant on the meeting, which is already came earlier board meeting in 2020.
Mr. Shub Bhowmick, Mr. Sumit Mehra, and Mr. Shashank Dubey, all of Indian origin, founded this Bengaluru-based technology firm in 2013.
Through this partnership, we will enable them (Tredence, CPF, and Advent) to become the world’s most indispensable data analytics partner through continued investment in vertical and domain expertise, IP and accelerator repositories, channel partner development, and operational excellence.
The Advent’s global reach, deep sector expertise, and vast experience in scaling businesses both like organic and inorganic growth will be valueless to us as we need to run continued business and innovation, said by Tredence CEO Mr. Bhowmick.
Shweta Jalan, Managing Partner of Advent said that data analytics is an exciting segment in which Tredence has built a domain expertise. “We are very excited to partner with them in the next segment of growth as they build a $500M revenue organization”.
Apart from India, Tredence has offices in San Jose, Chicago, Chennai, Toronto, London and a few other places.
Image source of this article : https://www.hrkatha.com/