Tamr Closes $18 Million Investment to Accelerate Growth & Secure Leadership of the Enterprise Data Unification Market
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jul 11, 2018--Tamr Inc., the innovator in data unification, today announced that it has closed an $18 million round of funding that includes participation from new investors SBI Investment, INTAGE Open Innovation Fund, Samsung Ventures, Fenox Venture Capital, and Alumni Ventures Group with additional participation from founding investors NEA and GV, as well as other existing investors.
The new financing will enable Tamr to continue its rapid growth, which was most recently demonstrated by its record start to 2018. The company’s growth is fueled by new urgency in large enterprises to reinvent how they manage data to accelerate their digital transformation. The Global 2000 are increasingly turning to Tamr’s machine-driven, human-guided approach to data unification as a foundational component of their next generation data management strategies.
“Our mission when we founded the company in 2013 was to enable large enterprises to unify key data to realize maximum strategic and operational benefit,” said Andy Palmer, co-founder and CEO of Tamr. “This new financing underscores the strategic importance of that mission as well as our ability to deliver for our customers. DataOps -- our vision for how enterprises can reinvent the way they manage data to accelerate digital transformation -- is fast becoming a reality and driving widespread adoption of Tamr’s best-of-breed data unification solutions. We’re grateful for the support of all of our investors, and proud to have expanded our investor base with a new group of visionaries who understand Tamr’s potential to become a pillar of the enterprise DataOps ecosystem.”
Tamr’s solutions are based on the company’s patented enterprise data unification software platform. The system was initially conceived by Turing Award winner Dr. Michael Stonebraker and his fellow co-inventors who published their research about the Data Tamer System for tackling large scale data curation challenges in early 2013. Tamr was founded shortly after that to commercialize the research and has become a high-growth company by enabling large enterprises to tackle previously unsolvable data problems. By applying machine learning supplemented by human expertise to large-scale data curation challenges, Tamr’s agile data mastering and classification solutions are able to break through the limitations of traditional rules-based data integration approaches inherent in ETL and MDM products.
“Since its inception in 1999, the SBI Group has capitalized on technology disruptions to create growth opportunities,” said Mr. Yoshitaka Kitao, representative director, president & CEO of SBI Holdings, the parent company of SBI Investment. “We have chosen to invest in Tamr because their innovative application of machine learning to the long-standing challenges of large-scale data integration has enormous disruptive potential. The company has already demonstrated that it can deliver impressive results for customers in several different industries, and we are excited to partner with them to further accelerate their growth.”
Additional Resources:Learn more about Tamr: www.tamr.com Follow us on Twitter: https://twitter.com/Tamr_Inc Connect on LinkedIn: http://www.linkedin.com/company/tamr
About Tamr, Inc. Tamr is the enterprise-scale data unification company trusted by industry leaders like GE, Toyota, Thomson Reuters, and GSK. The company’s patented software platform uses machine learning supplemented with customers’ knowledge to unify and prepare data across myriad silos to deliver previously unavailable business-changing insights. With a co-founding team led by Andy Palmer (founding CEO of Vertica) and Mike Stonebraker (Turing Award winner) and backed by founding investors NEA and GV, Tamr is transforming how companies get value from their data.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180711005174/en/
CONTACT: DBT Communications
David Templeton, 203-530-0458
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET NETWORKS SOFTWARE
SOURCE: Tamr, Inc.
Copyright Business Wire 2018.
PUB: 07/11/2018 07:30 AM/DISC: 07/11/2018 07:30 AM