Data management firm Denodo has secured a significant investment of USD 336 million (Rs 2,788 crore) from asset management company TPG, which will lead to the sale of shares by Denodo’s existing investor HGGC.
Recent Private Equity News India
The transaction is expected to close in early October after customary regulatory approvals. HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor in the company.
Photo by Jordan Harrison on Unsplash
TPG’s investment in Denodo is expected to accelerate the company’s expansion and growth, leveraging its unique and disruptive logical-first approach to data management. Denodo has built a notable roster of marquee global customers, including TPG, with a market-leading net promoter score of over 50. The company is a global leader in data virtualization software, offering self-service BI, data science, and enterprise data services.
Denodo CEO and founder Angel Viña expressed his excitement about leveraging TPG’s deep experience to continue the rapid expansion of their global market share. TPG partner Mike Zappert also added that there is a tremendous opportunity to accelerate Denodo’s expansion going forward.
