The funding round was led by Warburg Pincus,
with participation from Accel, joining existing investor Updata
Partners to accelerate CData’s leadership in data connectivity and
integration
CData Software (“CData”), the leading provider of data
connectivity solutions, today 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."
“CData has been on a remarkable growth journey since we began
working with them four years ago,” said Carter Griffin, General
Partner, Updata Partners. “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.”
Respected industry experts have recognized CData’s pioneering
capabilities, technical innovation, and market leadership. In Q4
2023, CData was featured in the Forrester Wave™ report for Cloud
Data Pipelines, and named as a Strong Performer in the 2024 Gartner
Peer Insights™Voice of the Customer report for Data Integration.
Additionally, CData ranked on the 2023 Deloitte Technology Fast
500™ list, and was recently recognized as a 2024 Inc. Best
Workplaces honoree.
Cleary Gottlieb Steen & Hamilton LLP served as M&A
counsel, Paul, Weiss, Rifkind, Wharton & Garrison LLP served as
financing counsel, and William Blair & Company, LLC served as
financial advisor to Warburg Pincus. DLA Piper LLP served as legal
counsel and J.P. Morgan served as financial advisor to CData
Software.
To learn more about CData, please visit www.cdata.com.
About CData Software
CData Software is a leading provider of data access and
connectivity solutions. Our self-service data products and
connectivity solutions provide universal access to live data from
hundreds of popular on-premises and cloud applications. Millions of
users worldwide, including Salesforce, Office Depot, and Holiday
Inn, rely on CData to enable advanced analytics, boost cloud
adoption, and create a more connected business. Consumable by any
user, accessible within any application, and built for all
enterprises, CData is redefining data-driven business. Learn more
at www.cdata.com or reach a representative via email at
info@cdata.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm
has more than $81 billion in assets under management. The firm’s
active portfolio of more than 250 companies is highly diversified
by stage, sector, and geography. Warburg Pincus is an experienced
partner to management teams seeking to build durable companies with
sustainable value. Since its founding in 1966, Warburg Pincus has
invested more than $116 billion in over 1,000 companies globally
across its private equity, real estate, and capital solutions
strategies. The firm is headquartered in New York with offices in
Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg,
Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and
Singapore. For more information, please visit
www.warburgpincus.com. Follow us on LinkedIn.
About Updata Partners
Updata Partners is a leading technology-focused growth equity
firm in Washington D.C. with over $1.5 billion in committed
capital. Led by an investment team averaging more than 25 years of
technology experience, Updata invests in high-growth B2B software
and software-driven businesses where the combination of capital and
operating experience will help accelerate success. For more
information, visit www.updata.com.
About Accel
Accel is a global venture capital firm that is the first partner
to exceptional teams everywhere, from inception through all phases
of private company growth. Atlassian, Bumble, CrowdStrike, Fiverr,
Flipkart, Freshworks, Qualtrics, Scale, Segment, Slack, Spotify,
Squarespace, Tenable, and UiPath are among the companies Accel has
backed over the past 40+ years. We help ambitious entrepreneurs
build iconic global businesses. For more, visit www.accel.com or
www.twitter.com/accel.
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version on businesswire.com: https://www.businesswire.com/news/home/20240626259142/en/
Walker Sands cdata-pr@walkersands.com Sarah McGrath Bloom,
Warburg Pincus Sarah.bloom@warburgpincus.com Chantelle Darby, Accel
cdarby@accel.com