CData Software, a leading global provider of cloud connectivity and integration solutions, has 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.
The announcement follows a strong period of growth and profitability for CData and reflects the company’s continued success in the market. Amit Sharma, CData co-founder and CEO, says the enterprises and ISVs are increasingly recognizing the benefits of CData’s unique approach to data connectivity. “I’m looking forward to deepening our partnership 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.
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 also will focus on hiring additional talent across the organization to continue broadening its global presence.
As data sprawl accelerates, Updata General Partner Carter Griffin says CData solves the data connectivity challenge facing nearly every single organization. “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.”
About Updata Partners
Updata Partners is a leading technology-focused growth equity firm in Washington D.C. Led by an investment team averaging more than 25 years of technology experience, Updata invests in high-growth software and software-driven businesses where the combination of its capital and operating experience will help accelerate success. To learn more, please visit updata.com.
CData Software is a leading provider of data access and connectivity solutions specializing in the development of standard drivers and data access technologies for real-time access to online or on-premise applications, databases, and web APIs. You can reach the company via email at firstname.lastname@example.org, online at www.cdata.com, or by calling US: (800) 235-7250 or International: (919) 928-5214.
Publisher’s Supplement: CData produces Data Connectors and other software for many of the data sources that our Accountant, Bookkeeper and ProAdvisor readers utilize including, but not limited to, Dynamics, Excel, Excel Online, NetSuite, Office365, OneNote, QuickBooks, QuickBooks Online, QuickBooks Point-of-sale, Sage 200, Sage 300, Sage Intacct, Salesforce, TSheets (QuickBooks Time), and Xero in addition to a multitude of eCommerce products.
Acknowledgements & Disclosures:
CData and the CData Logo are trademarks of CData Software. All other product and service names mentioned herein are the trademarks of their respective owners.
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