US-based software firm Tamr bags $18m from SBI, Samsung, others

Picture: REUTERS/Kacper Pempel

Data unification firm Tamr Inc has announced the closing of an $18 million round of funding from new investors SBI Investment, INTAGE Open Innovation Fund, Samsung Ventures, Fenox Venture Capital, and Alumni Ventures Group.

Other investors in the round were existing backers including NEA and GV, the startup said in an official release.

Boston-based Tamr provides a software platform that applies machine learning supplemented by human expertise to large-scale data curation challenges. It counts GE, Toyota, Thomson Reuters, and GSK among its customers.

The fresh capital will enable Tamr to continue its rapid growth, a statement said.

“Our mission when we founded the company in 2013 was to enable large enterprises to unify key data to realize maximum strategic and operational benefit. This new financing underscores the strategic importance of that mission as well as our ability to deliver for our customers. DataOps — our vision for how enterprises can reinvent the way they manage data to accelerate digital transformation — is fast becoming a reality and driving widespread adoption of Tamr’s best-of-breed data unification solutions,” said Tamr co-founder and CEO Andy Palmer.

Commenting on the investment in Tamr, SBI Holdings CEO and President Yoshitaka Kitao said: “We have chosen to invest in Tamr because their innovative application of machine learning to the long-standing challenges of large-scale data integration has enormous disruptive potential. The company has already demonstrated that it can deliver impressive results for customers in several different industries, and we are excited to partner with them to further accelerate their growth.”

Also Read:

Japanese AI startup Cinnamon raises $9m in SBI Investment-backed round

SoftBank Vision Fund leads $250m round in US enterprise software firm Cohesity

East Ventures, Skystar Capital back software company PHI-Integration