Denodo (a leader in data management) and TPG (a global alternative asset management firm) recently announced that they have signed a definitive agreement for TPG Growth (the firm’s middle market and growth equity platform) to invest $336 million in Denodo’s Series B preferred equity.
The deal, which includes both primary capital and a secondary sale of shares by HGGC, is expected to close in early October following customary regulatory approvals. HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor.
The addition of TPG and its broad set of capabilities is an important next step in Denodo’s growth trajectory. And Denodo has grown into a global leader in data management since HGGC’s investment in the company in 2017, with industry-leading customers across the world.
The Denodo Platform includes advanced functionality to unify and democratize the use of data that resides in any IT corporate system. Supported by a disruptive logical compared to a traditional approach to data management, the platform provides a common data layer for the intelligent management of the data traffic that flows from all data sources to the business users and software applications in an organization – helping customers to become more competitive through higher levels of data utilization and compliance and achieve a radical impact in operational efficiencies.
KEY QUOTES:
“As the rapid growth in the volume, variety, and velocity of data continues, Denodo has established itself as a global leader in data management. Denodo’s unique data virtualization software, which allows enterprises to create unified views of disparate data sources that can be queried easily without moving them, has powered impressive, profitable growth. With a market leading Net Promoter Score of over 50, the company has built a notable roster of marquee, global customers including TPG, and we see a tremendous opportunity to accelerate Denodo’s expansion going forward. We are excited to partner with Angel and his management team on the next phase of their journey.”
– Mike Zappert, Partner at TPG
“We are excited to welcome TPG as an investor in Denodo, as their deep experience investing in innovative, high-growth companies with disruptive technologies is a perfect fit for our company. This funding is a testament to Denodo’s leadership in the data management market and our further growth potential using the logical-first approach, powered by data virtualization. We look forward to leveraging TPG’s deep experience to continue the rapid expansion of our global market share. We are equally thrilled that HGGC will remain an important investor in Denodo and are thankful for their lasting partnership and ongoing commitment.”
– Angel Viña, CEO and Founder of Denodo
“Over the last six years, we have observed Denodo’s tremendous growth in both its product leadership and market share. Today, with an even more advanced platform, a roster of large global customers, and the strength of the executive team, we see increased future potential for Denodo and look forward to continuing to help them lead the logical data management movement.”
– Steven Leistner, Partner and Co-chief Investment Officer of HGGC and a Denodo Board Member
“Over the last six years, we have observed Denodo’s tremendous growth in both its product leadership and market share. Today, with an even more advanced platform, a roster of large global customers, and the strength of the executive team, we see increased future potential for Denodo and look forward to continuing to help them lead the logical data management movement.”
– Steven Leistner, Partner and Co-chief Investment Officer of HGGC and a Denodo Board Member
