Tredence has chalked out fresh plans to accelerate data-fueled growth and AI value realization for industries from a global private equity investor Advent International. It has raised $175 Million to accomplish this mission. Advent will acquire a minority stake in Tredence with the investment.
“We are thrilled to welcome Advent as a partner to Tredence,” said Tredence CEO Shub Bhowmick. “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.”
Tredence was started by Shub Bhowmick, Sumit Mehra, and Shashank Dubey in 2013. Its goal is to bridge the gap between delivering insights and putting them to use. It gives customers a different way to look at data and analytics by creating custom solutions. There are offices for the new company in San Jose, Foster City, Chicago, London, Toronto, and Bengaluru. It has 1,800 workers and clients in retail, telecom, healthcare, travel, and other industries.
Tredence to accelerate data-fueled growth and AI value realization
“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,” said Shweta Jalan, Managing Partner at Advent International in India.
“Tredence has built the business with deep domain expertise that positions it well to become a category-defining leader in the space. We are very excited to partner with Tredence in the next chapter of growth as they build a $500M revenue organization.” Jalan added.
In 2021, the company came up with a vertical AI go-to-market strategy that combines deep data science knowledge with business context to solve tough industry problems. The company’s AI strategy will focus on ATOM.AI, which is an integrated ecosystem of accelerators that helps businesses move from design to experience to value.
Recent IT and information services investments include Encora, CI&T, NielsenIQ, Neoris, Sophos Solutions, Aareon, Canvia, and QuEST Global Services.
Existing investor Chicago Pacific Founders (CPF), a private equity firm, will continue to be a shareholder in Tredence. CPF made its initial investment into the startup in December 2020, according to a statement.
