Tredence, a company that offers services in data science and artificial intelligence (AI), has raised $175 million in a Series B fundraising round that was led by Advent International and included previous investor Chicago Pacific Founders.

According to a release, the San Jose-based business expects to use the investment to maintain its current rate of development, strengthen its vertical capabilities, and broaden its clientele.
With the $175 million investment, Advent “will acquire a minority ownership in Tredence,” according to the release.

Tredence, a company established in 2013 by Shub Bhowmick, Sumit Mehra, and Shashank Dubey, strives to close the gap between the delivery of insights and the realisation of their value by providing clients with a unique perspective on data and analytics through specialised solutions.

“Tredence was established to assist clients in resolving some of the most difficult problems in a variety of industries through practical innovation and ongoing experimentation. Advent will be joining us on this adventure, and CPF (Chicago Pacific Founders) has been a valuable collaborator over the past four years, said cofounder and CEO Bhowmick.

With offices in San Jose, Foster City, Chicago, London, Toronto, and Bangalore, Tredence employs over 1,800 employees and serves clients in the retail, consumer packaged goods, high-tech, telecom, healthcare, travel, and other industries.

In order to solve industry difficulties, the company created a vertical AI go-to-market strategy in 2021. This strategy combines strong data science skills with commercial context. The company’s vertical AI approach will centre on ATOM.AI, an integrated accelerator environment that leads businesses from design to experience to value.

A multinational private equity firm called Advent International specialises in taking over businesses in Western and Central Europe, North America, Latin America, and Asia. Encora, CI&T, NielsenIQ, Neoris, Sophos Solutions, Aareon, Canvia, and QuEST Global Services are a few of the companies that have recently made investments in IT and information services.

To date, Tredence has secured $30 million in private equity financing.
“Data analytics is an intriguing area of digital IT services that is growing over time. According to Shweta Jalan, managing partner of Advent International in India, the practise is spurred by the surge in data collected and recorded globally, the decreased cost of computers and storage, and the chance for businesses to tap into useful insights to achieve competitive advantage.

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