CData Software Raises $140 Million in Series B Funding to Accelerate Growth and Cloud Strategy
Funding led by Updata Partners will advance CData’s mission to bring unparalleled connectivity solutions to the cloud
CData Software, a leading global provider of cloud connectivity and integration solutions, today announced a $140 million Series B funding round led by Updata Partners, a growth equity investment firm focused on B2B software. The latest investment follows a $20 million Series A funding round by Updata in March 2020, bringing the total funds raised to $160 million.
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This announcement follows a strong period of growth and profitability for CData and reflects the company’s continued success in the market.
“Enterprises and ISVs are increasingly recognizing the benefits of CData’s unique approach to data connectivity,” said Amit Sharma, CData co-founder and CEO. “I’m looking forward to deepening our relationship with the Updata team, who have been instrumental in helping us build a strong foundation for rapid growth. With this investment, we will accelerate the expansion of CData connectivity solutions in the cloud.”
Extracting value from data is critical to success in today’s business landscape. Yet as organizations shift to cloud, hybrid and multi-cloud infrastructures, they face increasing data proliferation and integration challenges. CData’s mission is to simplify the way businesses connect, integrate and automate their data – wherever it may reside.
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CData is the leading provider of standards-based real-time data connectivity – a core component of the rapidly growing data management and analytics markets. From Fortune 500s and Global 2000s to SMEs worldwide, more than 10,000 organizations rely on CData connectivity to overcome data fragmentation challenges and unlock value from diverse, dispersed data assets. In 2021, major data management providers like Google, Salesforce, SAS and OutSystems joined the likes of Tableau, Informatica and Tibco in embedding CData technologies to support their customers’ rapidly expanding connectivity demands.
With this new round of funding, CData will expand its cloud capabilities, investing in further development of its cloud-native universal data platform. The company will also focus on hiring additional talent across the organization to continue broadening its global presence.
“As data sprawl accelerates, CData solves the data connectivity challenge facing nearly every single organization,” said Carter Griffin, Updata General Partner. “Updata is excited to continue to support the company’s revenue growth, expanding product set and growing team. CData is already the leader in data connectivity and has a tremendous opportunity to build on that foundation.”
