Deutsche Börse invests in Trifacta
Written by Anthony Strzalek
Germany’s Deutsche Börse Group has announced a strategic investment in San Francisco-based ‘data wrangling’ outfit Trifacta.
Data wrangling is the process of manually converting or mapping data from one raw form into another format that allows for more convenient consumption of the data with the help of semi-automated tools.
Deutsche Börse has acquired a minority stake in the firm and the investment will be managed by its corporate venture capital arm, DB1 Ventures.
Thomas Curran, advisor innovation and technology to Deutsche Börse, will join the non-executive board as observer for Deutsche Börse.
Carsten Kengeter, CEO of Deutsche Börse AG, said: “As digitisation will continue to impact financial markets, we aim to create a digital transaction platform benefitting from stronger data and analytics. By partnering with Trifacta, we enhance our analytics technologies for Big Data and advance our customer solutions.”
Adam Wilson, CEO of Trifacta, added: “Deutsche Börse manages some of the largest and most diverse data in capital markets. To improve their information agility, they selected us as their enterprise standard for self-service data preparation and we are now thrilled to also welcome them as a strategic investor.
“With their help, we will continue to optimise Trifacta for the data wrangling needs of the industry’s leading financial organisations.”
Currently, the Trifacta platform is used by Google for its enterprise cloud data preparation service among others.