NielsenIQ Owner Invests $175m in Data Firm Tredence

Data science and AI solutions company Tredence has raised $175m in Series B funding from Advent International, to fuel its growth. Full financial terms of the agreement were not disclosed.

Headquartered in San Jose, CA and with additional offices in Foster City, Chicago, London, Toronto and Bangalore, Tredence describes the focus of its data science solutions as the 'last mile... between insight creation and value realization'. This includes business intelligence for marketing, sales, supply chain, operations, pricing, and mapping the customer decision journey; and the firm employs around 1,800 people.

Advent, which is the majority shareholder in the merged NielsenIQ / GfK, takes a minority stake in Tredence and a seat on its board, while existing investor Chicago Pacific Founders retains a 'meaningful' shareholding.

Tredence CEO Shub Bhowmick (pictured), who founded the firm in 2013 with Sumit Mehra and Shashank Dubey, comments: 'Advent's global reach, deep sector expertise, and vast experience in scaling businesses like ours through organic and inorganic growth will be invaluable to us as we look to drive continued business innovation. 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'. Advent says it is 'very excited to partner with Tredence in the next chapter of growth as they build a $500m revenue organization'.

Web site: www.tredence.com .