Venture Capital Access Online logo
Venture Capital Access Online

CData Software Secures ~$350 Million in Strategic Growth Funding as AI Proliferation Sparks Increased Need for Data Connectivity

Share This Article

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

CHAPEL HILL, N.C., June 26, 2024-- 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.

Contact:
Walker Sands
cdata-pr@walkersands.com

Sarah McGrath Bloom, Warburg Pincus
Sarah.bloom@warburgpincus.com

Chantelle Darby, Accel
cdarby@accel.com

News Index
Venture Capital Database | Private Equity Database
VCPro Database

VCPro Database 2024

2024 Newly-Updated Edition Now Available!

Price: $119.5 (including an annual update for free in January 2025)

Easily access venture capital with the affordable VCPro Database 2024: the premier directory for venture capital and private equity.