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Stock impact report

Data connectivity company CData Software raises $350 million in Warburg Pincus-led funding [Yahoo! Finance]

The ODP Corporation (ODP) 
Last the odp corporation earnings: 2/26 06:50 am Check Earnings Report
US:NYSE Investor Relations: investor.officedepot.com
Company Research Source: Yahoo! Finance
firm Warburg Pincus, as enterprises are processing more data than ever to support their AI strategies, the company told Reuters on Wednesday. CData did not disclose its valuation, but a source close to the deal said it was valued at over $800 million. Venture capital firm Accel also participated in the funding round. The company said it is growing by more than 40% year-over-year and expects to rake in $100 million in annual recurring revenue (ARR) by end of this year, drawing renewed interest from investors in funding fast-growing software companies. Founded in 2016, North Carolina-based CData offers self-service data products and connectivity solutions that enable access to real-time data from both on-premises and cloud applications. Its client list includes Salesforce, Office Depot and FedEx. The company intends to use the financing to accelerate investments in operations, product development and its go-to-market strategy. Updata Partners, a technology-focused growth equit Show less Read more
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