Tredence to utilise $175 million Series B fundraise for business expansion and M&A

Tredence, a data science, and AI solutions company recently raised $175 million in its Series B funding from Advent International to accelerate data-fuelled growth and AI value realisation for industries.

Advent will also acquire a minority stake in Tredence with the $175 million investment. The funding will help Tredence build on growth momentum, strengthen vertical capabilities, and reach a broader customer base.

Speaking to CNBC-TV18, Shub Bhowmick, co-founder and CEO of the company said, "The investment from Advent will be used for expanding the organisations reach both in terms of breadth and depth of our service offerings. We will consolidate our presence in verticals in which we have a significant presence today. We will additionally incubate new verticals such as insurance and healthcare. We will also be expanding into new geographies such as Europe, the UK and the Middle East. Also, we will be exploring M&A opportunities to further accelerate our growth."