Denodo, a Palo Alto-based company that provides data virtualization software, announced that it has raised $336 million in Series B preferred equity investment from TPG Growth, a global alternative asset manager.
The deal also involves a secondary sale of shares by HGGC, a previous investor in Denodo’s Series A round in 2017, which will remain a significant shareholder.
Denodo’s software enables enterprises to create unified views of data from different sources without moving them, allowing for faster and easier data integration, management, and delivery. The company has a diverse portfolio of global customers across various industries, such as healthcare, retail, banking, and manufacturing.
The new investment will help Denodo accelerate its growth and expand its market presence using a logical-first approach powered by data virtualization.
TPG Growth is the growth equity platform of TPG, which has $139 billion in assets under management. TPG Growth invests in companies across various sectors and stages, from early-stage to growth buyouts.
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