New Funds for Big Data Firm Tredence

In the US, AI-focused big data analytics provider Tredence has raised $30m in a round of funding, which it will use to expand into the healthcare sector; hire both in the US and abroad; and expand into Europe and China.

Headquartered in the San Francisco Bay Area, with additional offices in Chicago and in India, Tredence's technology-agnostic capabilities range from data visualization and data management to advanced analytics, big data and machine learning. These are used to provide business intelligence for marketing, sales, supply chain, operations, pricing, and mapping the customer decision journey.

New funding comes from private equity firm Chicago Pacific Founders (CPF), which invests in growth companies within healthcare services and care for aging populations. The investment will also be used to further Tredence's presence in industry verticals such as retail, CPG, industrials, technology and telecoms.

CEO Shub Bhowmick comments: 'COVID-19 has further underscored how the healthcare space is primed for disruption, and AI is key to fast-track real transformation. Whether to help address inequities in access to care, optimize patient outcomes or advance research, to name a few applications, AI is a long-awaited catalyst for driving meaningful change across the healthcare continuum - and the investment by Chicago Pacific Founders will help us, collectively, embark on this transformation'.

Web site: www.tredence.com .