Tredence, the Data Science and AI Solutions company, raises $175 million in Series B funding from Advent International (Advent) to accelerate data-fueled growth and AI value realisation for industries. However, the full financial terms of the agreement have not been disclosed.
Advent will acquire a minority stake in Tredence with the $175 million investment. The existing investor Chicago Pacific Founders (CFP), a private equity firm, will continue to be a meaningful shareholder in Tredence. CPF made its initial investment in Tredence in December 2020.
“Tredence was founded to help clients solve some of the most complex challenges across industries through pragmatic innovation and continuous experimentation. CPF has been a value-added partner over the last few years, and we are excited to be joined by Advent on this journey,” said Tredence CEO Shub Bhowmick.
Shweta Jalan, Managing Partner at Advent International in India, stated, “Data analytics is an exciting segment within digital IT services with secular growth. The practice is fueled by the rise in data created and captured globally, the reduced cost of compute and storage, and the opportunity for enterprises to tap into valuable insights to drive competitive advantage.”
Founded in 2013 by Shub Bhowmick, Sumit Mehra, and Shashank Dubey, Tredence aims to bridge the gap between insight delivery and value realization, providing customers with a differentiated approach to data and analytics through tailor-made solutions.
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