Cloud data company set for global expansion

THE REGION’S latest unicorn Matillion has created almost 180 jobs so far this year as it gears up for further global expansion.

The cloud data company now has a headcount of 390 compared to the total of 213 it employed at the end of 2020.

Speaking exclusively to BusinessLive, CEO and founder Matthew Scullion, inset below, added the Altrincham firm is looking to “double down” on its operations in the US and “triple down” in Europe over the coming years.

Mr Scullion’s comments come after newly-filed documents with Companies House show Matillion’s turnover increased from $16m to

$29.9m in the 12 months to the end of December 2020 while its pre-tax losses were cut from $15.5m to $11.8m.

The company raised $150m in a funding round led by a US investment giant.

The business secured the Series E funding from General Atlantic with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners, and Lightspeed Venture Partners.

That funding marked Matillion’s second triple-digit round of 2021, bringing the total amount raised to $310m.

The new valuation meant the business became Manchester’s sixth unicorn - a term meaning a privately-held start-up valued at over £1bn.

It joins fellow city-based firms On The Beach, Boohoo, AutoTrader, THG and AO. In 2020, Matillion’s UK turnover increased from $2m to $2.4m while its sales in Europe more than doubled from $2m to $4.8m.

Mr Scullion told BusinessLive: “As we navigated through the first half of the year, which was materially affected by Covid, I was uncertain as to how the world would play out so we cut back on investment but in the back half of the year as things started to accelerate again we got back into the business of building and scaling and that plays out showing as a reduced loss going into 2021.”