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Knowledge virtualization firm Denodo bucked the general tech funding slowdown at present with information of a large $336 million Sequence B spherical by a non-public fairness agency.
Denodo Applied sciences traces its roots again to 1999, when Angel Viña, a professor on the College of A Coruña, had an thought on remedy an information integration problem that had bedeviled many through the years. Thus was born Denodo and its idea of knowledge virtualization.
As an alternative of frequently making copies of knowledge to be used in analytics or AI initiatives, as many organizations do at present, Denodo advocates that clients use a type of knowledge virtualization that permits them to make use of the information for analytics or knowledge science functions, however with out copying it or bodily shifting it to a brand new location.
The corporate’s knowledge virtualization know-how suits into a bigger knowledge material providing, dubbed Denodo Enterprise, that gives customers with ruled, self-service entry to disparate knowledge units. Denodo helps greater than 200 knowledge adapters for supply knowledge programs, together with databases, file programs, cloud object shops, purposes, and even Kafka streams. Looking from an built-in knowledge catalog, customers can entry this knowledge for consumption in BI and knowledge science instruments through APIs, together with REST and GraphQL.
The Palo Alto, California firm claims that its knowledge material providing can result in important financial savings, together with a 400% return on funding (ROI) amounting to hundreds of thousands of {dollars}. Its method has helped it land some premiere clients through the years, together with Albertsons, Gilead, Logitech, Seagate, T-Cellular, and Volvo.
Lately, the corporate has expanded internationally with new workplaces in South Korea, Sweden, and Thailand in 2022. At the moment, the corporate had 25 workplaces spanning 20 nations. The brand new $336 million funding from TPG Development, the “development fairness” arm of TPG Inc. (previously Texas Pacific Group), will allow the corporate to maintain increasing.
The funding by TPG Development contains each major capital in addition to a secondary sale of shares by HGGC, the non-public fairness agency backed by former NFL quarterback Steve Younger that had beforehand invested in Denodo. The transaction is anticipated to shut in early October as a part of Denodo’s Sequence B most well-liked fairness spherical.
Mike Zappert, a associate at TPG, says Denodo has established itself as a world chief in knowledge administration. “Denodo’s distinctive knowledge virtualization software program, which permits enterprises to create unified views of disparate knowledge sources that may be queried simply with out shifting them, has powered spectacular, worthwhile development,” Zappert says.
Angel Viña, the founder and CEO of Denodo
Viña, the founder and CEO of Denodo, says he welcomes TPG’s funding, which he says will probably be used to speed up world enlargement.
“By investing in Denodo at this upward stage of our development, TPG is demonstrating that it has robust confidence in our distinctive logical-first method to knowledge administration, which simplifies the entry and integration of all knowledge belongings within the company knowledge property to speed up and democratize knowledge utilization, obtain increased ranges of safety and regulatory compliance, and dramatically enhance operational effectivity,” Viña writes in a weblog.
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