Tredence Raises $175 Mn in Series B Funding

The funding will fuel data-led growth and AI value realisation for industries.
Listen to this story

Tredence, the data science and AI solutions company, recently announced that it has raised $175 million in Series B funding from Advent International to fuel data-led growth and AI value realisation for industries. 

The terms of funding involves that Advent will acquire a minority stake in the investment. Besides Advent, the existing investor Chicago Pacific Founders (“CPF”), a private equity firm, which made its initial investment in December 2020, will continue to be a shareholder in Tredence. As part of the transaction, Advent will also join the Tredence board. 

Read: AI & Analytics Service Companies Sees 4–5% Increase in M&A

AIM Daily XO

Join our editors every weekday evening as they steer you through the most significant news of the day, introduce you to fresh perspectives, and provide unexpected moments of joy
Your newsletter subscriptions are subject to AIM Privacy Policy and Terms and Conditions.

Alongside the co-founders of Tredence and the CPF, Advent will continue to invest in the company’s operational excellence, vertical and domain expertise, IP and accelerator library, and channel partner development.

Tredence CEO Shub Bhowmick said, “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.”

Download our Mobile App

Tredence was established in 2013 by Shub Bhowmick, Sumit Mehra, and Shashank Dubey with the goal of bridging the gap between insight delivery and value realisation by offering clients a differentiated approach to data and analytics through specialised solutions. The funding also comes at a time after Tredence told AIM that it is in expansion mode, where it has moved to a bigger facility in Bengaluru, alongside launching offices in Chennai and Delhi. 

Bhowmick said that they are planning to grow fairly aggressively in Toronto, Canada, where they are expected to see significant growth. At the time, the company claimed to have witnessed revenue growth of 100%, alongside hiring more employees

The global private equity investor, Advent, on the other hand, has made a series of investments in IT and information services including Encora, CI&T, NielsenIQ, Neoris, Sophos Solutions, Aareon, Canvia, and QuEST Global Services.

Overall, Advent International has invested in over 400 private equity investments across 42 countries, and as of June 30, 2022, had $96 billion in assets under management. With 14 offices in 12 countries, Advent has established a globally integrated team comprising over 285 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology.

Sign up for The Deep Learning Podcast

by Vijayalakshmi Anandan

The Deep Learning Curve is a technology-based podcast hosted by Vijayalakshmi Anandan - Video Presenter and Podcaster at Analytics India Magazine. This podcast is the narrator's journey of curiosity and discovery in the world of technology.

Ayush Jain
Ayush is interested in knowing how technology shapes and defines our culture, and our understanding of the world. He believes in exploring reality at the intersections of technology and art, science, and politics.

Our Upcoming Events

24th Mar, 2023 | Webinar
Women-in-Tech: Are you ready for the Techade

27-28th Apr, 2023 I Bangalore
Data Engineering Summit (DES) 2023

23 Jun, 2023 | Bangalore
MachineCon India 2023 [AI100 Awards]

21 Jul, 2023 | New York
MachineCon USA 2023 [AI100 Awards]

3 Ways to Join our Community

Telegram group

Discover special offers, top stories, upcoming events, and more.

Discord Server

Stay Connected with a larger ecosystem of data science and ML Professionals

Subscribe to our Daily newsletter

Get our daily awesome stories & videos in your inbox