Matillion
UK-based cloud ETL/ELT platform that builds and manages data pipelines across warehouses.
On the record
Checkpoint: Q3-Q4 2026 revenue growth check for reacceleration on Maia adoption
The call
Matillion has real customers and revenue growth, but it sits on a layer that Snowflake and Databricks are now building natively into their own products.
Matillion is a software company that helps businesses move and organize data between different databases and cloud systems. It is getting harder to stay unique because the biggest data warehouses, like Snowflake and Databricks, are building similar features directly into their own products, and AI tools are starting to do the manual work that Matillion's customers pay for. The company's survival depends on whether its new AI assistant, called Maia, can do things the warehouse giants cannot, or whether those giants simply absorb Matillion's job into their own platforms over the next year or two.
Why
01
AI pressure: Snowflake Cortex and Databricks AI native tooling. Both warehouses ship AI that maps schemas and writes transforms, the exact labor Matillion sells today. Could AI do the core job? Yes, likely.
02
Bigger players: Snowflake, Databricks. Both own the warehouse Matillion depends on and have every incentive to absorb the pipeline layer themselves. Could a giant copy it? Yes, easily.
03
What protects it. About 500 enterprise customers with pipelines already wired into their systems, which costs time and risk to rip out.
What would change this call
Matillion announces a new priced funding round or valuation change by mid-2027. Would show whether investors still back the $1.5B mark or a down-round has occurred.
Matillion's headcount and job openings trend over the next 2-3 quarters. Continued shrinkage would signal internal contraction despite AI growth claims.
Matillion revenue growth rate reported for Q3-Q4 2026. Reacceleration toward 40%+ YoY would show Maia is driving real demand versus flattening growth.
Matillion's headcount and job openings trend over the next 2-3 quarters. Continued shrinkage would signal internal contraction despite AI growth claims.
Matillion revenue growth rate reported for Q3-Q4 2026. Reacceleration toward 40%+ YoY would show Maia is driving real demand versus flattening growth.
Key numbers
- ARR about $99M, up 31% YoY
- Valuation stuck at $1.5B since 2021
- Headcount down to 464 from peak 513
Named risks
- No priced funding round since 2021; valuation stale at $1.5B for roughly 5 years.
- Warehouse vendors (Snowflake, Databricks) building native AI pipeline tools that could absorb Matillion's core layer.
- AI-driven growth narrative unproven; 15x revenue multiple requires acceleration not yet demonstrated.
- Headcount decline from 513 (Jan 2024) to 464 (Jul 2026) alongside reported prior layoffs and GTM leadership churn.
- Crowded competitive field with Fivetran, Airbyte, Informatica shipping comparable AI features same window.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Snowflake | gaining on | Snowflake Cortex ships native AI pipeline tools while remaining a Matillion investor and distribution partner (2026) |
| Databricks | gaining on | Databricks AI native tooling threatens to absorb transformation layer Matillion monetizes, per AInvest 2026-07-09 |
| Fivetran | contesting | Shipping competing agentic AI features in same window as Matillion's Maia rollout (2025-2026) |
| Airbyte | contesting | Positioned as direct alternative with comparable AI-integration features per Airbyte comparison, 2025-08-19 |
| Informatica | contesting | Legacy incumbent pivoting to consumption-based IPU pricing and competing on enterprise integration, 2026-04-22 |
Questions people ask
- Is Matillion profitable in 2026?
- Profitability is not disclosed. Matillion's estimated ARR was ~$99M in 2025, up from ~$75.7M in 2024 (about 31% YoY), per Getlatka (2025-11-27) and AInvest (2026-07-09). No profit figures have been reported publicly.
- Could AI replace Matillion?
- Matillion's core value, pipeline building and schema mapping, is exactly what AI agents automate. Snowflake Cortex and Databricks AI ship native competing tools in the same window as Matillion's own Maia agent, launched June 2025, per AInvest (2026-07-09).
- Who owns Matillion?
- Matillion is privately held and VC-backed, with no IPO filed as of November 2023 (Forge Global). Its last priced round was a $150M Series E in 2021 at a $1.5B valuation, per CRN; Citi Ventures added a strategic investment in June 2022.
- Who is Matillion's biggest competitor?
- Matillion is rated a Challenger, not Leader, in the 2025 Gartner Magic Quadrant for Data Integration Tools, competing against Fivetran, Airbyte, and Informatica, while Snowflake and Databricks build native AI pipeline tools of their own, per PRNewswire (2026-03-16).
- Is Matillion going to IPO?
- No IPO has been filed or confirmed as of the most recent reporting (Forge Global, 2023-11-14). The company remains privately held at a $1.5B valuation set in 2021, with no priced funding round since then as of mid-2026.
- What is Matillion worth in 2026?
- Matillion's last confirmed valuation is $1.5B, set by a $150M Series E round in 2021 (CRN). As of July 2026 no new priced round has occurred, making the valuation roughly five years stale against ~$99M estimated 2025 ARR, per AInvest.
Timeline
- 2026-07-09Maia Foundation reaches general availability on Google BigQuery
- 2026-03-16Tim O'Neil appointed Chief Revenue Officer to scale AI-driven GTM
- 2025-11-27Getlatka reports ~$99M ARR against $1.5B valuation
- 2025-06-03Matillion launches Maia agentic AI data engineering product at Snowflake Summit
- 2025Matillion named Challenger in Gartner Magic Quadrant for Data Integration Tools
- 2024-01Headcount peaks at approximately 513 employees
- 2022-06-08Citi Ventures makes strategic investment in Matillion
- 2021Matillion raises $150M Series E at $1.5B valuation
Revision history
21 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- $99M ARR, $1.5B Valuation (2025-11-27)
- Matillion Launches Maia Foundation on BigQuery, But the AI Data Story Is Still Unproven (2026-07-09)
- Data Integration Tech Developer Matillion Raises $150 Million
- Matillion - Headcount, Funding & Open Jobs (2026-07-08)
- Matillion Appoints Tim O'Neil as Chief Revenue Officer (2026-03-16)
- Matillion Unveils Agentic Data Team to Supercharge Productivity (2025-06-03)
- Matillion Launches Maia Foundation on Google BigQuery (2026-07-09)
- Matillion Launches Maia Foundation on Google BigQuery (2026-07-09)
- Matillion Appoints Tim O'Neil as Chief Revenue Officer (2026-03-16)
- Matillion Announces Strategic Investment from Citi Ventures (2022-06-08)
- Tim O'Neil Appointed As Chief Revenue Officer (2026-03-16)