CData Software, a leading provider of data connectivity solutions, announced that it received about $350 million in growth capital from Warburg Pincus, a leading global growth investor, with participation from Accel. This funding round will enable CData to accelerate its investments in building advanced data integration solutions for customers. Updata Partners, the only investor in CData’s Series A in 2020 and Series B in 2021, will remain a significant investor.
There are 7,000+ organizations, including Office Depot, Holiday Inn, and FedEx that depend 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 integrate CData technologies into their platforms to support their customers’ expanding data integration needs. And to further its goal of simplifying data connectivity for enterprises, users, and applications, CData will continue to invest in operations, product development, and go-to-market strategy.
Since its founding, CData has maintained a profitable operating model, gaining momentum through strategic partnerships, acquisitions, and product innovation. 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 various sources, with many enterprise organizations leveraging over 100 applications and systems to manage operations. And bridging these data silos has become increasingly complex, requiring different integration methods to meet organizations’ unique needs.
As the only data management vendor company that is bringing a bi-modal integration stack to market, CData enables 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.
Cleary Gottlieb Steen & Hamilton served as M&A counsel, Paul, Weiss, Rifkind, Wharton & Garrison served as financing counsel, and William Blair & Company, LLC served as financial advisor to Warburg Pincus. DLA Piper served as legal counsel and J.P. Morgan served as financial advisor to CData Software.
KEY QUOTES:
“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. 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.”
– Amit Sharma, co-founder and CEO, CData
“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.”
– 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.”
– 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. We’re thrilled to support CData as it builds on its standards for interconnecting the largest catalog of business data.”
– Nate Niparko, Partner at Accel
“CData has been on a remarkable growth journey since we began working with them four years ago. With a world-class product set of data access and connectivity solutions, we believe CData is well positioned for continued outperformance in collaboration with Warburg Pincus and Accel. We are pleased to welcome them as investors, and to continue our partnership with CData.”
– Carter Griffin, General Partner, Updata Partners
