CData Software, the leading provider of data connectivity solutions, announced that it received approximately $350 million in growth capital from Warburg Pincus, a leading global growth investor, with participation from Accel. The funding round will allow CData to accelerate its investments in building innovative data integration solutions for customers. Updata Partners, the sole investor in CData’s Series A in 2020 and Series B in 2021, will remain a significant investor.
Over 7,000 organizations, including Office Depot, Holiday Inn, and FedEx, rely on CData to solve their toughest data connectivity challenges. Hundreds of major data management providers and independent software vendors (ISVs), including Google, Salesforce, and Informatica also embed CData technologies into their platforms to support their customers’ rapidly expanding data integration needs. To further its mission of simplifying data connectivity for enterprises, users, and applications, CData will continue to invest in operations, product development, and go-to-market strategy.
“Today marks a significant milestone for CData. Since our founding, CData has continually raised the bar with our innovative solutions, enabling companies to seamlessly connect to data wherever it resides,” said Amit Sharma, co-founder and CEO, CData. “Data access is at the core of any AI, ML, or advanced analytics strategy, but continues to be a challenging roadblock to innovation for many organizations today. Given their vast experience working with companies of a similar profile, partnering with Warburg Pincus and Accel will help CData thrive in our next stage, bringing cutting-edge solutions to the market and supporting our customers’ modern data initiatives.”
CData has maintained a profitable operating model since inception, gaining momentum through strategic partnerships, acquisitions, and product innovation. Notably, CData’s recent acquisition of Data Virtuality expands the company’s reach in the data virtualization market, enabling its customers to benefit from an enterprise data virtualization and integration platform purpose-built for real-time access to large volumes of data.
Companies are processing and sharing more data than ever across different sources, with many enterprise organizations leveraging over 100 applications and systems to manage operations. Bridging these data silos has become increasingly complex, requiring different integration methods to meet organizations’ unique needs. As the only data management vendor to bring a bi-modal integration stack to market, CData allows its customers to leverage both live data access and replicated data movement within one common connectivity platform. This flexible, modern approach to data connectivity provides organizations with a solid foundation to support and scale their AI/ML strategies.
“We focus on investments that offer differentiated and value-added solutions that are well-positioned to benefit from addressing shifting business needs. CData is a great fit within our portfolio as a market leading provider of mission-critical data connectivity solutions, allowing organizations to connect, integrate, and manage data from various sources across on-premises and cloud environments,” said Cary Davis, Managing Director, Warburg Pincus. “We believe that our investment will bring CData into its next phase of growth and support the company’s mission to simplify access to data. We look forward to partnering with Amit and his team, along with Updata Partners and Accel, to expand and accelerate their success in this demanding market,” added Parag Gupta, Managing Director, Warburg Pincus.
“Data connectivity is a critical enabler in a world of intelligent software — any AI, analytics or automation service delivers far better outcomes the more cross-functional data it can access,” said Nate Niparko, Partner at Accel. “We’re thrilled to support CData as it builds on its standards for interconnecting the largest catalog of business data.”
SOURCE: Businesswire