The funding round was led by Warburg Pincus and Accel and includes both equity and secondary components. The funds will be used for business and product development. CData's platform currently hosts around 270 connectors and has partnerships with about 100 independent software vendors, including Google, Salesforce, and Informatica.
Key takeaways:
- CData, a data connectivity solutions provider, has secured $350 million in growth capital, valuing the company at over $800 million post-money.
- The company builds connectors for enterprises to integrate data from different applications and locations, with a recent surge in demand from customers wanting to build proprietary AI models based on their internal data.
- Warburg Pincus and Accel are the two firms involved in the all-equity transaction, which includes both equity and secondary components, with a separate undisclosed debt component on top of the $350 million.
- CData has partnerships with around 100 independent software vendors, including Google, Salesforce, and Informatica, to help build more user-friendly integrations, many of which are behind the scenes.