Global data science and AI (artificial intelligence) solutions company Tredence has raised $175 million in a Series B funding round from a global private equity investor Advent International.
Tredence will use the funds from this round to speed up the realization of AI for various industries and data-driven growth.
Advent will also join Tredence’s board of directors as part of the agreement, buying a minority equity stake in the startup.
Private equity firm Chicago Pacific Founders (CPF), an existing investor, will continue to hold shares of Tredence. According to a statement, CPF made its first investment in the firm in December 2020.
Tredence, a company founded in 2013 by Shub Bhowmick, Sumit Mehra, and Shashank Dubey, strives to bridge the gap between insight delivery and value realization.
Through customized solutions, it offers clients a distinct approach to data and analytics. The startup has offices in San Jose, Foster City, Chicago, London, Toronto, and Bengaluru.
It has 1,800 employees, and its clients include companies in the retail, telecom, healthcare, travel, and industry sectors.
“Tredence was founded to help clients solve some of the most complex challenges across industries through pragmatic innovation and continuous experimentation,” said Tredence CEO Bhowmick.