CHARLOTTE, N.C., Oct. 10, 2018 /PRNewswire/ -- Tresata, one of America's fastest-growing analytics software companies, today announced a $50 million growth capital investment from GCP Capital Partners, valuing the 7-year-old company at $1 billion. This investment represents the first funding Tresata has accepted from an institutional investor.
Tresata represents a new class of enterprise software company, delivering AI-powered cloud-first automation software that solves complex data problems. Tresata's founders, Abhishek Mehta and Richard Morris, started the company with the belief that in data lies the power to enrich life. Tresata software already helps some of the largest companies in the world address their highly-challenging data issues, including anti-money laundering, population health issues and omni-channel marketing.
"This investment is a major endorsement of our clients' confidence in the power of our software and the strength of our business model," said Tresata co-founder and chief executive Abhishek Mehta. "Our software is uniquely able to automate data analysis to solve for complex business problems, allowing decision-makers to address industry's and society's biggest challenges."
Another distinctive aspect of Tresata is its data management philosophy, driven by a strong governance ethos. Tresata's automated solutions allow the clients to always keep control and ownership of their data, by ensuring the data never leaves their platform.
"GCP Capital Partners has invested in and evaluated numerous businesses in the software and data analytics industry," said Robert H. Niehaus, chairman and founder of GCP Capital Partners. "We are extremely impressed by the data automation and software business that Tresata has built, which we view as a truly disruptive technology innovator targeting a large and high-growth marketplace." Niehaus continued, "We believe that Tresata is uniquely positioned to enable very large enterprises to manage and monetize their data assets, at a substantially lower cost and higher efficiency rate than existing competitors."
Mehta added: "I am delighted to welcome Bob and GCP to Tresata as partners who share our vision and our belief in automating solutions to the hardest data problems facing the world. Together, we will accelerate our drive as a high-growth company with extraordinary potential."
Tresata is the leading predictive analytics platform for understanding and monetizing people, process, product behaviors with a singular goal – to use data to enrich lifeTM. This is achieved with great purity, precision, and personalization by Tresata's machine learning software that automates the discovery of knowledge. Tresata is recognized as a pioneer in the Big Data software market, and has been ranked the fastest growing analytics software company in America. Founded in 2011, Tresata is headquartered in Charlotte, NC, with offices in New York and Chicago. Learn more at www.tresata.com.
About GCP Capital Partners
GCP Capital Partners is a middle market private equity investment firm managing three active funds with $1.4 billion in committed capital. GCP has completed over 60 transactions since its inception in 2000. GCP has been an active investor in the software and technology industries, having invested over $600 million in fourteen investments in these sectors. GCP's managing directors have over 100 years of combined private equity experience and have substantial personal capital invested in the funds. GCP Capital Partners is the successor to Greenhill Capital Partners, the merchant banking business of Greenhill & Co., Inc. (GHL) which the principals formed in 2000. For more information about GCP Capital Partners, please visit www.gcpcapital.com.
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