Cambridge-based Tamr announced on Tuesday that it has closed $10 million in new equity capital.
The round, which includes participation from Lincoln, Mass.-based Pear Tree Partners and Silicon Valley-based Granite Hill Capital Partners, added to the $18 million Series B1 raise that the company announced in July.
At that time, CEO Andy Palmer explained that there wasn't a leading investor in this round, although Samsung Ventures was the first investor. This time, he wrote in email to BostInno that Pear Tree Partners and Granite Hill Capital Partners were originally introduced through one of the company's other investors.
A machine learning startup, Tamr focuses on helping big companies access and combine large amounts of data from multiple sources. The latest financing brings its total investment to date to $75 million, with an updated Series B1 round of $28 million.
In conjunction with its recent financing, Tamr announced the appointment of three new board observers who'll drive strategic relationships with investors and partners, Palmer wrote: John McClellan (partner at Pear Tree Partners), Masataka Otomo (venture capitalist at SBI Investment) and Mona Vernon (CTO of Thomson Reuters Labs).
Asked about next steps for the company by the end of the year, Palmer wrote "drive growth and customers success as foundation for our path to profitability and CF+ over the next 3-5 years."
In a statement, Palmer said: “We’ve had a record start to 2018. With our round of funding now complete and the addition of four highly experienced new Board Observers, we’re on-track to continue our rapid growth as we redefine how companies solve previously intractable data unification challenges.”
