Reltio

Last Updated: 14th June 2024
Analyst Coverage: Andy Hayler

Reltio was founded in 2011 and is headquartered in Redwood City, near San Francisco. It is venture capital-backed with investors including Crosslink Capital, Sapphire Ventures and NewView Capital, raising $120 million at a $1.7 billion valuation in the most recent of its five funding rounds in 2021. It has over 400 employees and around 150 corporate customers, including well-known names such as AstraZeneca, Neiman Marcus, CarMax and Radisson.

Company Info

Headquarters: 100 Marine Parkway, Suite 275, Redwood Shores, CA 94065 USA
Telephone: +1 (855) 360 3282

Reltio

Last Updated: 14th June 2024
Mutable Award: Platinum 2024

What is it?

Figure 1 - Reltio products powered by Reltio Connected Data Platform

Reltio offers an AI-powered data unification and management platform: 360 Data Products, Multidomain Master Data Management (MDM), and Entity Resolution, powered by the Reltio Connected Data Platform that runs on major hyperscale cloud platforms AWS, Azure and GCP. As well as the core multi-domain MDM platform, there is an entity-resolution product aimed at data stewards, and a Reltio 360 Data Product™, including a conversational user interface. Reltio Connected Data Platform is designed to support real-time ingestion, processing, and sharing, and via the cloud infrastructure there is scalability that can manage very challenging applications. One global Financial Services customer uses it to manage over a billion customer profile records, an unusually large volume of records for an MDM implementation.

Even though MDM has been around for over two decades, many companies still struggle with getting consistent data about their customers, products, suppliers and assets, due to this master data being typically trapped and scattered across dozens or hundreds of applications, including some that may not be within the enterprise firewall. This presents a problem when a customer wants to introduce a business or AI initiative that needs access to such data. Unified data is the foundation for any digital transformation of AI initiative. For example, something like a customer churn improvement initiative or customer segmentation exercise requires unified customer data that is consistent, up-to-date, accurate and complete, and yet actually getting hold of such data can be challenging.

Customer Quotes

“We were attracted to a true cloud-native, fully managed SAAS solution to lower our infrastructure costs and increase our agility to deliver business value.”
Sandro Palleschi, Manager of Enterprise Data Services, Empire Life

“We wanted to get to the point where we had a 360-degree view of our customers, and we couldn’t deliver that without having the data, systems and technology together in a connected format.”
Shamin Mohammed, Chief Information and Technology Offices, Carmax

What does it do?

Figure 2 – Reltio activates your key initiatives with 3 offerings for data unification

Reltio was built from the ground up as a cloud-native product. It has an underlying NoSQL database with a graph-style approach to modelling relationships between data entities. It has the full range of features that you would expect from a modern MDM product. As well as connectors to various data sources, there is data quality functionality, such as merge-matching and cleansing, address validation (via an OEM of Loquate), survivorship rules and support for data stewards. From mid-2024, Reltio will partner with Collibra for data catalogue and governance functionality.

Reltio uses machine learning for merge/matching, and also has an AI interface to allow chatbot-style access with prebuilt ML models to the master data hub data for authorized users. The product’s user interface is aimed at business users not only technologists.

The Reltio Flexible Entity Resolution Networks (FERN) tool enables rule-free and accurate matching based on private large-language models (LLMs) for various industries. This can find matches that elude traditional rule-based matching approaches. Additionally, Reltio has “velocity packs” of pre-built data models, matching and survivorship rules for some industries including life-sciences and insurance, which speed up project implementation times.

Why should you care?

Reltio competes with other mainstream MDM products, such as Informatica, as well as custom-built MDM solutions and vendors, such as Profisee and others. Its decade of cloud-native experience means that it is unusually mature in this aspect, in an industry where many MDM vendors have a core code base of on-premise software that has been ported to a cloud environment. This has meant that Reltio appeals to companies that are interested in MDM implementations where real-time access is an issue, and where a cloud-centric implementation is desired. In several cases Reltio has been used to replace older on-premise MDM implementations from other vendors, or in some cases custom-built solutions.

The bottom line

Reltio has steadily built up an impressive list of customers, some using it for extremely challenging and high-scale MDM implementations. A decade of cloud-native experience and an emphasis on scalability and real-time means that they should be seriously considered by any company that is looking for a modern master data management solution.

Mutable Award: Platinum 2024

Commentary

A modern take on master data

Solutions

Reltio

Research

Reltio (2024) - A Leader in Data Unification and Management

Reltio has a modern cloud-native MDM system used at many global customers.

Data Assurance

This report is about assuring the quality and provenance of your data from both internal and external perspectives.

Further Information »