Tamir, a company using machine learning and customers’ knowledge to unify and prepare data, has raised an additional $10m in funding.
The additional capital, which included participation from Pear Tree Partners and Granite Hill Capital Partners, adds to the company’s $18m it raised in July.
As part of the funding, Tamr has also appointed new board observers including John McClellan, partner at Pear Tree Partners; Masataka Otomo, venture capitalist at SBI Investment; and Mona Vernon, CTO of Thomson Reuters Labs.
“We’ve had a record start to 2018,” said Andy Palmer co-founder and CEO of Tamr. “With our round of funding now complete and the addition of highly experienced new Board Observers, we’re on-track to continue our rapid growth as we redefine how companies solve intractable data unification challenges.”
Headquartered in Cambridge, Massachusetts, Tamr is an enterprise-scale data unification company trusted by the likes of GE, Toyota, Thomson Reuters, and GSK. The company’s solutions are based on its patented enterprise data unification software platform, Unify. By applying machine learning supplemented by human expertise to large-scale data curation challenges, Tamr can unify and prepare data across myriad silos to deliver previously unavailable business-changing insights.
With new data privacy regulations in place, Tamr claims to give large enterprises a unified view of all their data about EU citizens to understand the data footprint of every individual. The European Union General Data Protection Regulation (GDPR), which came into effect May 25, 2018, has caused a another of issues for organisations.
GDPR requires enterprises to understand what data they have about EU citizens or risk heavy fines as high as 4 percent of the company’s global revenue. Tamr’s machine learning-based approach to data unification dramatically lowers the cost and complexity of integrating data sources to provide enterprises with the global visibility needed to be compliant.
Tamr’s library of connectors and open, API-oriented architecture also allows enterprises to identify and delete all of the data they have about a customer on request, helping meeting the “Right to be Forgotten” requirement.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
