Data and analytics platform Tresata has closed $50m growth capital investment, giving the company a valuation of $1bn.
This new line of funding was supplied by North American private equity firm GCP Capital Partners. The deal marks the first funding Tresata has received from an institutional investor.
Tresata is a predictive analytics platform to helps to monetise people, process, product behaviours. The platform uses machine learning software to automate the analysis process for the financial services, retail and healthcare industries.
Through the automated solution, clients can keep control and ownership of their data, by making sure the data never leaves the platform.
North Carolina-based Tresata is used by banks, asset managers, investment firms, and FinTech companies for to automate data analysis. Some of the use cases include entity resolution, and anti-money laundering, as well as understanding customer behaviours in order to create new revenue lines.
GCP Capital Partners chairman and founder Robert Niehaus said, “We are extremely impressed by the data automation and software business that Tresata has built, which we view as a truly disruptive technology innovator targeting a large and high-growth marketplace.
“We believe that Tresata is uniquely positioned to enable very large enterprises to manage and monetize their data assets, at a substantially lower cost and higher efficiency rate than existing competitors.”
Last year, GCP closed its fourth flagship fund with a capital pool of £205m. The vehicle looks to invest in the UK lower mid-market, completing deals between £5m and £30m.
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