Press release
TPG to Invest $336 Million in Denodo to Accelerate Growth of the Data Management Leader
Investment Validates Denodo’s Unique and Disruptive Logical Approach to Data Management PALO ALTO, Calif. & SAN FRANCISCO--(BUSINESS WIRE)-- Denodo (the
About this update from Tpg Inc.
[{"type":"text","content":"\nInvestment Validates Denodo’s Unique and Disruptive Logical Approach to Data Management\n\n\n PALO ALTO, Calif. & SAN FRANCISCO--(BUSINESS WIRE)--\nDenodo (the “Company”), a leader in data management, and TPG (NASDAQ: TPG), a global alternative asset management firm, today announced that they have signed a definitive agreement for TPG Growth, the firm’s middle market and growth equity platform, to invest $336 million in Denodo’s Series B preferred equity. The transaction, which includes both primary capital and a secondary sale of shares by HGGC, is expected to close in early October following customary regulatory approvals. HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor.\n\n\n“As the rapid growth in the volume, variety, and velocity of data continues, Denodo has established itself as a global leader in data management,” said Mike Zappert, Partner at TPG. “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. 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. We are excited to partner with Angel and his management team on the next phase of their journey.”\n\n\nThe addition of TPG, and its broad set of capabilities, is an important next step in Denodo’s growth trajectory. To learn more about this new partnership, click here.\n\n\n“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 Viña, CEO and Founder of Denodo. “This funding is a testament to Denodo’s leadership in the data management market and our further growth potential using the logical-first approach, powered by data virtualization. We look forward to leveraging TPG’s deep experience to continue the rapid expansion of our global market share. We are equally thrilled that HGGC will remain an important investor in Denodo and are thankful for their lasting partnership and ongoing commitment.”\n\n\nDenodo has grown into a global leader in data manag...