Tredence Secures $175 Million in Financing from Advent International

Tredence, a data science and AI services provider, has raised $175 million in a Series B investment round that was led by Advent International and featured prior investor Chicago Pacific Founders. The San Jose-based company plans to use the investment to sustain its current rate of growth, expand its vertical capabilities, and increase its clients, according to a release. According to the press announcement, Advent "will acquire a minority ownership in Tredence" with the $175 million investment.

By offering clients a distinct perspective on data and analytics through specialised solutions, Tredence, a firm founded in 2013 by Shub Bhowmick, Sumit Mehra, and Shashank Dubey, aims to bridge the gap between the provision of insights and the fulfillment of their value.

"Tredence was founded to help clients find practical innovations and continuous experimentation solutions to some of the most challenging problems in a number of industries. According to co-founder and CEO Bhowmick, Advent will be accompanying us on this adventure, and CPF (Chicago Pacific Founders) has been a helpful partner over the previous four years.

Tredence has nearly 1,800 workers and services clients in retail, packaged goods, medical, travel, high-tech, telecom, and other industries.

In 2021, the company developed a vertical AI go-to-market strategy to address industry challenges. This approach combines solid data science expertise with a practical setting. ATOM. The company's vertical AI strategy will be based on AI, a coordinated ecosystem of accelerators that guides businesses from design to experience to value.

Advent International, a global private equity firm, specialises in buying out companies in Latin America, Western and Central Europe, North America, and Asia. Some businesses that have recently made investments in IT and information services include Aareon, Canvia, Encora, Sophos Solutions, CI&T, NielsenIQ, Neoris, and QuEST Global Services. Tredence has so far received $30 million in investment from private equity.

The fascinating field of data analytics in digital IT services is one that is always expanding. Shweta Jalan, the managing partner of Advent International in India, claims that the practice is being encouraged by the rise in data being gathered and recorded globally the falling cost of computers and storage, and the opportunity for companies to gain a competitive edge by utilizing useful insights.