As of June 28th, 2017, Denodo has made a successful partnership with HGGC, a leading middle-market private equity firm, to support the rapid acceleration of its data virtualization business. Not only has an investment from such a renowned firm led to quite some excitement, but also it has opened the public’s eyes as to how imperative and relevant data virtualization is to modern data integration.
Data virtualization is a mature technology that has been gaining prominence over the last ten years. During this time, we have seen its increasing adoption in various industries. Autodesk’s recognition as the finalist in the 2017 Gartner Data and Analytics Excellence award and both Biostorage Technologies and Seacoast Bank’s winning of the 2016 Ventana Research Leadership awards demonstrate data virtualization’s significant business impact. As businesses are moving faster than before, many users are abandoning their legacy low latency batch/ ETL technology for real-time data virtualization as a core part of their modern data architectures. Of course, this leads to more market potential for data virtualization, and hence, attracts more attention from investors.
HGGC’s interest in data virtualization sparked a huge opportunity to accelerate Denodo’s market leadership. When looking at such an established firm, of course, the question arises, “Why Denodo?” Steve Young, the Co-Founder and Managing Director, answers this question by addressing the role of data virtualization in the data integration market. “Denodo is a very exciting company that the HGGC team is proud to partner with,” said Young, “Early on, Angel saw that modern data integration was headed toward pervasive, real-time data access, and he built the best data virtualization solution on the market. Now data virtualization has tremendous momentum, and we look forward to partnering with Angel and his team to seize the enormous market opportunity ahead.”
As data virtualization becomes increasingly more relevant, so does Denodo. In the past year, Denodo’s North American business has grown 64% over the previous year. With this rapid growth, Denodo has been setting up new offices in Singapore, employing more personnel in sales, marketing, services, and R&D, and working at an incredibly fast-pace. This funding from HGGC will foster Denodo’s development and continue this momentum to further establish the real-time, ease-of-use of data virtualization in the data integration market.
To learn more about Denodo’s partnership with HGGC, read the press release.
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