Denodo, a Palo Alto, CA-based provider of data management software, raised $336 million in Series B preferred equity investment.
SaaS Investors
The investment was from TPG Growth. The transaction, which includes primary capital and a secondary sale of shares by HGGC, which invested in Denodo's Series A round in 2017, will remain a significant investor.
TPG is a global alternative asset manager with $139 billion in assets under management. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and its unique strategy is driven by collaboration, innovation, and inclusion. TPG launched TPG Growth in 2007 to meet the unique needs of earlier-stage companies, from traditional minority growth investing to growth buyouts and specialty capital.
Denodo Use of Funds
The investment is expected to accelerate Denodo's expansion. The company has built a roster of global customers, and this investment will support its further growth using a logical-first approach powered by data virtualization.
About Denodo
Founded in 1999 by Ángel Viña, Denodo is a data virtualization company that enables enterprises to create unified views of disparate data sources that can be queried without moving them. The award-winning Denodo Platform is a data integration, management, and delivery platform using a logical approach to enable self-service BI, data science, hybrid/multi-cloud data integration, and enterprise data services. The Denodo Platform includes advanced functionality to unify and democratize the use of data that resides in any IT corporate system.
Funding Details
Company: Denodo Technologies Inc.
Raised: $336.0M
Round: Series B
Funding Month: September 2023
Lead Investors: TPG Growth
Additional Investors:
Company Website: https://www.denodo.com/
Software Category: Data Virtualization Software
Source: https://www.businesswire.com/news/home/20230913643889/en/TPG-to-Invest-336-Million-in-Denodo-to-Accelerate-Growth-of-the-Data-Management-Leader