CData Software, a cloud connectivity startup based in Chapel Hill, has raised $140 million in Series B funding to improve on-premise and cloud connectivity across multiple data points.
The Series B round was led by Updata Partners following a $20 million series A closed back in March of 2020, bringing the total funding raised by CData Software to $160 million. The funds will allow the startup to expand its cloud functionality, as well as boost its development and hiring efforts. Carter Griffin, Updata General Partner, referred to the firm’s participation by stating:
“As data sprawl accelerates, 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.”
Ever since its founding, CData has experienced rapid growth as the demand for cloud connectivity and integration solutions continues to rise. The startup offers a means for organizations to extract value from data at a time when they have to deal with unprecedented amounts of data. Amit Sharma, CData co-founder and CEO, said in this regard:
“Enterprises and ISVs are increasingly recognizing the benefits of CData’s unique approach to data connectivity. I’m looking forward to deepening our relationship 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.”
According to Forbes, at least 80% of all enterprise Business Operation teams believe that data integration was critical to their operations as they relied on it to support their analytics and BI platforms. CData Software is aiming to facilitate data integration by bringing multiple data sources together under a single platform, not only integrating data but also automating processes.