Tamr, Inc., a Boston, MA-based data unification company, received an equity investment from GE Ventures.
No financial terms were disclosed. In addition to the funding, Lisa Coca, a managing director at GE Ventures, joined Tamr’s board of directors as an observer.
The company intends to use the funds to accelerate product development and go-to-market initiatives.
Co-founded by Andy Palmer, CEO, and and Mike Stonebraker, Tamr provides a data unification software platform which uses machine learning supplemented by human expertise to unify and prepare data across myriad silos to deliver business-changing insights.
The solution initially began working with GE in 2014 to deliver a new class of analytics to optimize spend. GE’s goal was to unify the data from more than 270 separate ERP systems to create a complete and accurate picture of the company’s direct spending.
Today, Tamr processes 20 million transactions representing $60B in direct spend, and delivers unified, clean supplier data directly into people on the front lines at GE. It is also using Tamr’s software across multiple business units for a wide range of data unification tasks including business-to-business customer record management.
Tamr is also used by GE, Toyota, Thomson Reuters, GSK, HP, Philips, and Amgen.
The company is backed by NEA and Google Ventures and now GE Ventures.