Technology unicorn Matillion has confirmed a major investment from Citi Ventures which contributed to its recent valuation of $1.5bn.
The Greater Manchester-headquartered cloud data company announced the news after the investor first revealed it was to back the company in November last year.
BusinessLive reported in September 2021 that Matillion had raised $150m in a funding round led by a US investment giant with stakes in the likes of Gymshark, BuzzFeed and Squarespace.
READ MORE: Cloud data company Matillion valued at $1.5bn after Gymshark investor leads $150m funding round
The company secured the Series E funding from General Atlantic with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners, and Lightspeed Venture Partners.
The valuation meant the business became Manchester's sixth unicorn - a term meaning a privately-held start-up valued at over £1bn. It joined fellow city-based firms On The Beach, Boohoo, AutoTrader, The Hut Group and AO.
Matillion also has offices in New York, Denver and Seattle and works with the likes of Tui, Travis Perkins, Ikea, Amazon and Siemens.
Matthew Scullion, co-founder and CEO of Matillion, said: "Financial services organisations need timely, quality data from a myriad of sources to make real-time decisions that impact everything from asset allocation to customer experiences.
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"Citi Ventures recognises the value in our low-code approach to cloud-native data integration, as we enable organizations across industries to more quickly build data pipelines and drive more impactful business outcomes."
Vibhor Rastogi, global director, AI/ML investments, Citi Ventures, added: "As the amount of data stored in the cloud grows exponentially, it has become even more critical for enterprises to be able to glean meaningful insights from both on-premises and cloud applications that can drive real-time decisions.
"Matillion is providing an exciting solution to this challenge At Citi Ventures, we understand well how Matillion's work to streamline cloud-native data integration can change the game for financial institutions and more, and look forward to supporting the team as it continues to add significant value to its customers."