Tredence, a data science and AI solutions company, has raised $175 million in Series B funding from Advent International (Advent) to accelerate data-fuelled growth and AI value realisation for industries. 

Advent will acquire a minority stake in Tredence with the $175 million investment. The existing investor Chicago Pacific Founders (CPF) will continue to be a shareholder in Tredence. CPF made its initial investment in Tredence in December 2020, said the company. 

Bridging the gap

Founded in 2013 by Shub Bhowmick, Sumit Mehra, and Shashank Dubey, Tredence aims to bridge the gap between insight delivery and value realisation, providing customers with a differentiated approach to data and analytics through tailor-made solutions. 

Tredence CEO Shub Bhowmick 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.” 

Tredence was founded to help clients solve some of the most complex challenges across industries through pragmatic innovation and continuous experimentation. CPF has been a value-added partner over the last few years, and we are excited to be joined by Advent on this journey, he added. 

Advent, alongside Tredence’s co-founders and CPF, will work with the company through continued investment in vertical and domain expertise, IP and accelerator repository, channel partner development, and operational excellence. 

“Data analytics is an exciting segment within digital IT services with secular growth. The practice is fuelled by the rise in data created and captured globally, the reduced cost of compute and storage, and the opportunity for enterprises to tap into valuable insights to drive competitive advantage,” said Shweta Jalan, Managing Partner at Advent International in India. 

Published on December 23, 2022