Data Science Firm Trendence Raises $175M in Series B Funding from Advent International
Tredence, a data science and AI solutions company, raised $175mn in Series B funding led by global private equity giant Advent International to accelerate data-fueled growth and AI value realization for multiple industries. The financial terms of the agreement have not been disclosed.
Advent will acquire a minority stake in the company, while existing investor private equity firm Chicago Pacific Founders (CPF) will continue to be a significant shareholder. CPF made its initial investment in December 2020.
Tredence is focused on solving what it says is the “last-mile problem in AI,” which it says is the gap between insight creation and value realization.
To that end, it provides enterprises with advisory services and tailor-made solutions to analyze data using AI to glean insights, with a focus on machine learning, data visualization and data management.
The company caters to multiple industries, including retail, healthcare, financial services, and travel and hospitality.
Advent has made significant investments in technology services and software sectors, including Encora, CI&T, NielsenIQ, Neoris, Sophos Solutions, Aareon, Canvia, and QuEST Global Services.