ABN AMRO Digital Impact Fund (DIF), a corporate venture fund, has announced the acquisition of a stake in Trifacta, a US-based a privately owned software company.
Trifacta allows companies to discover, wrangle & visualise complex data to manage data quality, preparation and pipelines through a platform integrated with all major cloud providers, removing the critical barrier data-wrangling present to the success of analytics and machine learning.
ABN AMRO DIF director Hugo Bongers said: “Trifacta’s solutions offer big opportunities to companies in many sectors whose future lies in working in a data-driven manner. It’s no wonder market analysts at Forrester and Gartner give the firm a top listing in their sector.
“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.”
ABN AMRO DIF investing in Trifacta marks its ninth investment
ABN AMRO said that making data usable for analysis marks one of the biggest challenges companies are facing currently, while the company believes that usable, clean and structured data is necessary to apply new technologies including machine learning and artificial intelligence, in a cloud environment.
Trifacta is engaged in data wrangling, with an increasing amount of data moving to the cloud, more data quality, preparation and pipeline workloads are moving there as well, causing an increased need to derive faster insights and deliver bottom-line business results.
Additionally, Trifacta offers a cloud-native solution that wrangles data from various sources through a unique combination of human-computer interaction, machine learning and scalable data processing, helping companies in making critical business decisions.
Launched in 2015, ABN AMRO DIF is a corporate venture fund investing in innovative start-ups and scale-ups specialising in the digitalisation of financial products and services.
ABN AMRO DIF claims that it is a €50m (£44m) fund holding interests in Thetaray, Tealium, Tink, BehavioSec, solarisBank, Ockto and Crosslend.
