Global data science and AI (artificial intelligence) solutions company Tredence has raised $175 million in a Series B funding round from a global private equity investor Advent International.
Funds from this round will help Tredence accelerate data-fuelled growth and AI value realisation for industries.
As part of the deal, Advent will acquire a minority stake in Tredence and join the startup’s board.
Existing investor Chicago Pacific Founders (CPF), a private equity firm, will continue to be a shareholder in Tredence. CPF made its initial investment into the startup in December 2020, according to a statement.
Founded in 2013 by Shub Bhowmick, Sumit Mehra, and Shashank Dubey, Tredence aims to bridge the gap between insight delivery and value realisation.
It provides customers with a differentiated approach to data and analytics through tailor-made solutions. The startup has offices in San Jose, Foster City, Chicago, London, Toronto, and Bengaluru.
It has 1,800 employees and counts companies in retail, telecom, healthcare, travel, and industries as clients.
“Tredence was founded to help clients solve some of the most complex challenges across industries through pragmatic innovation and continuous experimentation,” said Tredence CEO Bhowmick.
Last year, the startup worked on a vertical AI go-to-market strategy that combines deep data science expertise with business context to solve daunting industry problems.
This vertical AI strategy will focus on ATOM.AI, an integrated accelerator ecosystem that guides enterprises from design to experience to value.
Edited by Affirunisa Kankudti