Tredence Raises $175 Mn in Series B Funding from Advent International


Funding from Advent International will help Trendence build momentum, strengthen vertical capabilities and reach a broader customer base.

SAN JOSE, BOSTON, BANGALORE, MUMBAI, Dec. 22, 2022 (GLOBE NEWSWIRE) — Tredence, a data science and AI solutions company, announced today that it has raised 175 million Series B funding from Advent International (“Advent”) announced that it has raised US dollars. Leverage industry data to accelerate growth and AI value realization. Advent is one of the largest and most experienced global private equity investors. Full financial terms of the deal were not disclosed.

Advent will acquire a minority stake in Tredence for a $175 million investment. Advent has significant investment experience in the technology services and software sectors. Recent investments in IT and information services include Encora, CI&T, NielsenIQ, Neoris, Sophos Solutions, Aareon, Canvia, and QuEST Global Services.

Existing investor Chicago Pacific Founders (“CPF”), a leading private equity firm, remains a significant shareholder in Trendence. CPF made its first investment in Trendence in December 2020.

Founded in 2013 by Shub Bhowmick, Sumit Mehra and Shashank Dubey, Trendence bridges the gap between delivering insight and delivering value, offering customers a differentiated approach to data and analytics through bespoke solutions. We aim to provide.

Advent, along with the co-founders of Trendence and CPF, will work with the company through continued investment in vertical and domain expertise, IP and accelerator repositories, channel partner development, and operational excellence. This partnership helps advance Trendence’s vision of becoming the world’s most essential data and analytics partner. As part of the transaction, Advent will join Tredence’s board of directors.

“We are delighted to welcome Advent as a partner of Trends. Shub Bhowmick, CEO of Trendence, said: “Advent’s global reach, deep sector expertise, and extensive experience in scaling businesses like ours through organic and inorganic growth are invaluable to us as we seek to drive continued business innovation. Tredence was founded to help clients solve some of the most complex challenges across industries through practical innovation and continuous experimentation. We are a valued partner and happy to have Advent join us on this journey.”

“Data analytics is an exciting area of ​​digital IT services with long-term growth. It is driven by opportunities to use insights to drive competitive advantage.” Shweta Jalan, Managing Partner, Advent International, India“Tredence has built a business with deep domain expertise that makes it well-suited to become a category-defining leader in its space. We are very much looking forward to partnering with Trendence on the next chapter of our growth.”

“Tredence leads the industry in designing data analytics strategies, discovering actionable insights, and implementing outcome-based AI engagement models for clients. Mary Tolan, Founder and Managing Partner of Chicago Pacific Founders“The company has led world-class data transformation initiatives for companies across industries through its portfolio of AI/ML solutions. I am confident in.”

In 2021, the company has devised a vertical AI go-to-market strategy that combines deep data science expertise with business context to solve tough industry problems. The company’s vertical AI strategy will focus on ATOM.AI. ATOM.AI is an integrated accelerator ecosystem that guides enterprises from design to experience to value.

About Tradence Co., Ltd.

Trendence is a global data science solutions provider focused on solving AI last-mile problems. The “last mile” is the gap between creating insight and realizing value. Headquartered in San Jose, the company employs a vertical-first approach and results-driven mindset to help clients capture and realize value from their analytics investments. With over 1,800 employees and offices in San Jose, Foster City, Chicago, London, Toronto and Bangalore, Trendence serves some of the largest companies in retail, consumer goods, high tech, telecom, healthcare, travel and industry. as a customer.

For more information, please visit www.tredence.com and follow us on LinkedIn.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 400 private equity investments in 42 countries and, as of June 30, 2022, has $96 billion in assets under management. Advent has established a globally integrated team of over 285 private equity investment professionals across North America, Europe, Latin America and Asia, with 14 offices in 12 countries. The company focuses on investments in five core sectors including business and financial services. Healthcare; Industrial; Retail, Consumer, Leisure. and technology.

For more information, visit www.adventinternational.com and follow Advent on LinkedIn.

About Chicago Pacific Founders

Based in Chicago and San Francisco, Chicago Pacific Founders (“CPF”) is focused on investing in value-based care, healthcare services, AI and technology-enabled services growth companies and serving an aging population. A leading healthcare private equity firm. CPF’s leadership team is made up of former healthcare founders, entrepreneurs and investment professionals with a passion and track record of building quality businesses.

For more information, visit http://www.cpfounders.com/ and follow CPF on LinkedIn.

CONTACT: India - Sivaram K Tredence +91 99860 70780 US- Sophia Templin FGS Global - US PR Contact for Advent +1 646 805 2000 Adventinternational-US@fgsglobal.com Joanne Hogue Smart Connections PR - US PR Contact for Tredence +1 410-658-8246 joanne@smartconnectionspr.com



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