CHAPEL HILL, N.C. (PRWEB) March 26, 2020
CData Software (cdata.com), a premier provider of cloud data connectivity and integration solutions, today announced a $20 Million Series A investment from Updata Partners, a leading growth equity firm focused on B2B software and software-enabled business. Updata and CData will be collaborating to expand the Company's global presence, introduce new cloud offerings, and accelerate the rollout of new cutting-edge data connectivity solutions.
Dedicated to simplifying the way that users and applications connect with data, CData Software delivers an extensive array of standards-based data connectivity solutions. Thousands of organizations rely on CData products every day for their data access needs to help overcome common data fragmentation challenges, and unlock value from diverse and dispersed data assets. Through OEM partnerships, dozens of leading software vendors trust CData to enable robust connectivity for their customers to a variety of data sources, on-premise and on the cloud.
John Burton, Co-Founder of Updata, and Carter Griffin, General Partner at Updata, will join CData's Board of Directors, with John serving as Chairman. John bootstrapped Business Software Technology (BST) into a successful sale to Legent Corporation, a public company he led as CEO until its $1.8 billion acquisition by Computer Associates in 1995. Most recently, John served as Chairman and CEO of Nintex, a leading SaaS workplace automation software provider with over 8,000 global customers.
"Early last year, we set out to find the right financial partner to help us accelerate our growth plans," said Amit Sharma, CEO of CData Software. "We found the Updata team to be a great fit for our culture, our values, and the way we do business. Updata's focus on B2B software, and John's wealth of experience in particular, will be a great asset in our path to revolutionizing data connectivity and fundamentally improving the economics and efficiency of enterprise information flow."
John Burton said, "I know firsthand the challenges for enterprises to seamlessly access and integrate critical data, which is now located in a multitude of clouds and on-premise data stores. For over a decade, CData has been a leader in developing connectivity technology. It's a perfect time to take advantage of the company's great success to date to accelerate growth and expand market leadership."
Carter Griffin added, "CData has done a tremendous job bootstrapping to meaningful scale and profitability. We were excited by the opportunity to work with Amit and his team, and the fundamentals made the decision an easy one."
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 (cdata.com), 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 cdata.com, or by calling US: (800) 235-7250 or International: (919) 928-5214.