In a significant financial move, data management firm Denodo has proudly announced a substantial investment of $336 million from the globally recognized alternative asset management giant, TPG. This financial injection will be facilitated through TPG Growth, the middle market and growth equity platform of the investment firm, focusing on Denodo’s Series B preferred equity.
The transaction encompasses a blend of primary capital infusion and a secondary sale of shares by existing investor HGGC. The deal is anticipated to conclude in early October, contingent upon customary regulatory approvals, as stated by the company in an official release.
HGGC, an initial investor in Denodo through its Series A investment round in 2017, will maintain a significant stake in the company, underlining its enduring faith in Denodo’s trajectory of growth and success.
Denodo’s acclaimed data virtualization software stands as a hallmark, enabling enterprises to create cohesive, unified views of disparate data sources that are easily queryable without necessitating data movement. This unique capability has propelled the company towards substantial, profitable growth, as acknowledged by Mike Zappert, Partner at TPG.
The Denodo Platform is widely recognized as a market leader, offering unparalleled data integration, management, and delivery solutions. Employing a logical approach, it empowers self-service business intelligence, data science, hybrid/multi-cloud data integration, and enterprise data services.
Denodo boasts an extensive clientele comprising both large enterprises and mid-market entities across a diverse spectrum of more than 30 industries. The newly secured investment from TPG is expected to further fuel Denodo’s mission of democratizing the use of data residing in various IT corporate systems.
Expressing his enthusiasm regarding the partnership, Angel Vina, the CEO and Founder of Denodo, welcomed TPG as an investor, emphasizing their expertise in supporting innovative, high-growth companies with disruptive technologies, aligning seamlessly with Denodo’s strategic vision and ambitions.
