CData Software Banks $20M Series A
March 27, 2020
Software secured a $20 Million Series A investment from Updata Partners.
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.
Updata brings deep experience in rapid-growth technology ventures to
CData Board of Directors
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.
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."