CData scores $350M as data integration needs surge in the age of AI

by | Jun 26, 2024 | Technology

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In the race to adopt AI and gain a competitive edge, enterprises are making substantial investments. They are pouring millions of dollars (sometimes even billions) into high-performance models and using them to build applications capable of driving efficiencies across different internal and external functions. The work is accelerating, but many teams are also beginning to note that their investments are not paying off — with the applications not delivering the expected results and ROI.

The problem at the core is data. Most companies are struggling to put their data affairs in order and unify all the proprietary information they have. Enter CData, a company addressing this ‘integration’ dilemma with a range of data access and connectivity solutions. Today, the startup announced it has bagged $350 million in growth funding from Warburg Pincus and Accel to further accelerate its work, allowing engineers and business users alike to access and integrate data from any source or system. 

“Data access is at the core of any AI, ML, or advanced analytics strategy, but continues to be a challenging roadblock to innovation for many organizations today. Given their vast experience working with companies of a similar profile, partnering with Warburg Pincus and Accel will help CData thrive in our next stage of business, bringing cutting-edge solutions to the market and supporting our customers’ modern data initiatives,” Amit Sharma, the co-founder and CEO of the company, said in a statement.

Before this, the company had raised $160 million across a couple of rounds from Updata Partners.

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Don’t miss OpenAI, Chevron, Nvidia, Kaiser Permanente, and Capital One leaders only at VentureBeat Transform 2024. Gain essential insights about GenAI and expand your network at this exclusive three day event. Learn More

In the race to adopt AI and gain a competitive edge, enterprises are making substantial investments. They are pouring millions of dollars (sometimes even billions) into high-performance models and using them to build applications capable of driving efficiencies across different internal and external functions. The work is accelerating, but many teams are also beginning to note that their investments are not paying off — with the applications not delivering the expected results and ROI.

The problem at the core is data. Most companies are struggling to put their data affairs in order and unify all the proprietary information they have. Enter CData, a company addressing this ‘integration’ dilemma with a range of data access and connectivity solutions. Today, the startup announced it has bagged $350 million in growth funding from Warburg Pincus and Accel to further accelerate its work, allowing engineers and business users alike to access and integrate data from any source or system. 

“Data access is at the core of any AI, ML, or advanced analytics strategy, but continues to be a challenging roadblock to innovation for many organizations today. Given their vast experience working with companies of a similar profile, partnering with Warburg Pincus and Accel will help CData thrive in our next stage of business, bringing cutting-edge solutions to the market and supporting our customers’ modern data initiatives,” Amit Sharma, the co-founder and CEO of the company, said in a statement.

Before this, the company had raised $160 million across a couple of rounds from Updata Partners.

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