Tamr has announced that the venture capital branch of GE has made an equity investment in the company. The announcement comes after GE’s experience as a customer of Tamr’s for more than two years. The data analytics and integration solution provider will use the new capital to hasten product development and go-to-market initiatives. Although financial terms of the deal have not been disclosed, Tamr has raised more than $41 million in funding since being founded in 2012 by industry veterans Andy Palmer, Mike Stonebraker and Ihab Ilyas.
Palmer spoke to the injection, saying: “Like our other corporate investors, this relationship began with GE becoming a customer, and I’m delighted with this important step forward in our partnership together. Our goal at Tamr is to build an innovative and enduring company that is known for enabling our customers to transform and thrive. It would be hard to find a better role model for this than GE.”
Lisa Coca, Managing Director at GE Ventures will join Tamr’s Board of Directors as an Observer per terms of the investment. In a press statement, she added: “We’ve seen firsthand the transformative results that Tamr’s technology has on an enterprise of GE’s scale. When the cost and complexity of bringing together enterprise datasets is massively reduced, the resulting analytic breakthroughs create opportunities that were previously inaccessible. We believe that Tamr will power a new wave of innovation and efficiency for major companies across the globe, and we’re delighted to partner with them to accelerate that mission.”
Tamr offers a data unification platform that uses machine learning that is supplemented by human experience to prepare data across disparate silos to deliver previously unavailable data. They tout a growing client-base featuring companies like General Electric, Toyota, HP, and Philips.
Given Tamr’s expanding market presence in a space that’s seeing unprecedented growth, we included the provider in our newest guide to help buyers select the best enterprise data and analytics software tools.
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