Tredence Inc, a Bengaluru-based data science and artificial intelligence (AI) firm, has raised $175 million (about Rs 1449 crore) in its Series B funding round led by Advent International for a minority stake. As part of the deal, Advent will also join the company’s board.

Existing investor Chicago Pacific Founders (CPF), a leading private equity firm that made its initial investment in Tredence in December 2020, will continue to be a meaningful shareholder in the data science and artificial intelligence (AI) firm.

The startup will channel the raised funds to accelerate data-fuelled growth and AI value realization for industries.

Additionally, Advent will also work with Tredence Analytics Solutions Pvt. Ltd to speed up investment in vertical and domain expertise, intellectual property and accelerator repository, channel partner development and operational excellence.

Tredence Inc. | Enablers Of Last Mile Adoption Of Data Science

Founded by Shub Bhowmick, Sumit Mehra, and Shashank Dubey in 2013, Tredence Inc leverages business analytics, data science and software engineering to provide prediction and optimization solutions to sectors such as telecommunications, pharmaceuticals, and retail.

Speaking about the development, Shub Bhowmick, Co-founder and CEO of Tredence, 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.”

Based in San Jose and Bengaluru, Tredence aims to bridge the gap between insight delivery and value realization, providing customers with a differentiated approach to data and analytics through tailor-made solutions.

Working with a team of 1800+ employees, Tredence Inc has offices in San Jose, Foster City, Chicago, Toronto, London, and Bangalore, with the largest companies in retail, hi-tech, telecom, healthcare, CPG, travel, and industrials as clients.

Commenting on the development, Shweta Jalan, Managing Partner at Advent International in India, said,

“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.”

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