Denodo, a data management provider, has entered into a definitive agreement with TPG for a $336 million investment. TPG Growth’s middle market and growth equity platform will facilitate this investment.
Denodo says its platform provides a standard data layer for intelligent data traffic management, empowering organizations to enhance data utilization, compliance and operational efficiency.
Angel Viña, the CEO and founder of Denodo notes that the funding is a testament to Denodo’s leadership in the data management market and its potential for future growth.
“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,” Viña asserts.
The transaction, including primary capital and a secondary sale of shares by HGGC, is set to conclude in early October, pending regulatory approvals.
Mike Zappert, a partner at TPG, recognizes Denodo’s success in providing unique data virtualization software and applauds the company’s ability to offer enterprises the ability to query and unify disparate data sources effortlessly.
“With a market-leading Net Promoter Score of over 50, the company has built a notable roster of marquee, global customers, including TPG, and we see a tremendous opportunity to accelerate Denodo’s expansion going forward,” Zappert explains.
Since HGGC’s initial investment in 2017, Denodo investors say the company has become a global leader in data management with industry-leading customers worldwide.
“We see increased future potential for Denodo and look forward to continuing to help them lead the logical data management movement,” states Steven Leistner, partner and co-chief investment officer of HGGC.
In 2020 and 2021, Denodo was recognized as a leader in Gartner’s Magic Quadrant for data integration tools.
data management | Denodo | investment | TPG