Private equity firm TPG to invest $336 mn in data management company Denodo
By siliconindia | Thursday, September 14, 2023
Data management company Denodo has announced it has raised $336 million from global alternative asset management firm TPG. The fresh investment will be made through TPG Growth, the firm's middle market and growth equity platform, in Denodo’s Series B preferred equity. The transaction, which includes both primary capital and a secondary sale of shares by existing investor HGGC, is expected to close in early October following customary regulatory approvals, the company said in a statement.
HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor. “Denodo’s unique data virtualization software, which allows enterprises to create unified views of disparate data sources that can be queried easily without moving them, has powered impressive, profitable growth,” said Mike Zappert, Partner at TPG. Denodo Platform is the leading 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.
Denodo has large enterprise and mid-market customers across more than 30 industries. “We are excited to welcome TPG as an investor in Denodo, as their deep experience investing in innovative, high-growth companies with disruptive technologies is a perfect fit for our company,” said Angel Vina, CEO and Founder of Denodo. The Denodo Platform includes advanced functionality to unify and democratize the use of data that resides in any IT corporate system.
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