Deutsche Börse Group, one of the world’s largest exchange organisations, has acquired a minority stake in data analytics firm Trifacta to push growth in its data services business. The transaction was made by its venture capital arm DB1 Ventures for an undisclosed sum of money.
Trifacta is a San Francisco-based organisation involved in analysing unstructured data to produce a crisper version of diverse information for use in analysis tools. The firm has a clientele base of over 8000 customers including Google, New York Life and Pepsico.
Five Common Mistakes Traders MakeGo to article >>
So far, the company has raised more than $76 million in funding, including the $35 million in fresh capital that it raised last year from Accel Partners, Greylock Partners, Ignition Partners and a new investor, Cathay Innovation.
Ankur Kamalia, MD and head of venture portfolio management at DB1 Ventures, Deutsche Börse, said: “We have invested into Trifacta in order to create new data driven products and services through efficient wrangling of our diverse and large data pools. With Trifacta Enterprise, we can explore new extensions in our data services offering in areas like risk management, investment decision making and trading analytics.”
The investment is a broad-based initiative by Deutsche Börse to strengthen its portfolio after its proposed multi-billion dollar merger with London Stock Exchange Group Plc (LSE) was formally blocked by the European Commission.