Matangi is the Dark One, a form of Saraswati, incarnated as the daughter of Matang Rishi. He was from the lowest caste known as Chandal, but did not believe in the orthodox caste system and wanted to achieve brahminhood through his karma. Through worship of first Indra and then Saraswati, she became his daughter and was unequaled in her intellect (mati). Thus Matang Rishi gained a reputation to which only brahmins were entitled.

Matangi is one of the ten Mahavidyas - the others are Kali, Tara, Shodashi, Bhuvaneshwari, Bhairavi, Chinnamasta, Kamala, Dhumavati and Bagla Mukhi. The Mahavidyas represent some or other incarnation or manifestation of the Divine Mother. They are in this sense also to be regarded as Vidyas or different approaches to (tantric) knowledge.

Matangi resides in the throat chakra and is radiant like the Moon. Matangi is an adviser of Tripur Sundari and het worship leads the aspirant to Tripur Sundari. Matangi is invoked to achieve command over speech, creativity and knowledge, among others.