Data science and artificial intelligence (AI) company, Tredence, has raised $175 million in Series B round of funding from private equity firm Advent International. Although the full financial terms of the agreement have not been disclosed, the company shared in a statement that these funds will be to “accelerate data-fueled growth” and “AI value realization for industries.” As part of this, Advent will join Tredence’s board. In recent times, some of Tredence’s information technology and information services investments include Encora, CI&T, NielsenIQ, Neoris, Sophos Solutions, Aareon, Canvia, and QuEST Global Services. The round also saw participation of one of Tredence’s existing investors- Chicago Pacific Founders- a PE firm which came on board in 2020. The Bengaluru-based tech company was launched in 2013 by Indian-origin co-founders including Shub Bhowmick, Sumit Mehra, and Shashank Dubey. Commenting on the fundraise, Bhowmick, who is also the CEO of the company, said, “Advent’s global reach, deep sector expertise, and vast experience in scaling businesses like ours through organic and inorganic growth will be invaluable to us as we look to drive continued business innovation.” This partnership will enable Tredence, CPF, and Advent to help the company become the world’s most indispensable data analytics partner through continued investment in vertical and domain expertise, IP and accelerator repository, channel partner development, and operational excellence. Shweta Jalan, Managing Partner at Advent said data analytics is an exciting segment in which Tredence has built a domain expertise. “We are very excited to partner with Tredence in the next chapter of growth as they build a $500M revenue organization,” she said. Apart from India, Tredence has offices in San Jose, Chicago, Chennai, Toronto, London and a few other places. Mary Tolan, Founder and Managing Partner at CPF also echoed Jalan’s thoughts and said, “Through its portfolio of AI/ML solutions, the company has led the charge for world-class data transformation initiatives for enterprises across industries. We remain confident in Tredence's ability to deliver long-term financial results for its shareholders.” Also Read: Flipkart, PhonePe complete separation; Walmart continues to be a majority stakeholder