Today, Datical Hits Warp Speed on Growth and Value for Customers
Today we are announcing a Series B investment of $8 million. This is a significant funding round by any measure and, to put it in context, it ranks in the top 5 software venture investments completed in the Austin market over the last year. Companies raise money for a variety of reasons. Sometimes, things are not going well and additional funding is required to pivot the business. Other times, as is the case with Datical, the company is growing quickly, and the investment creates the opportunity to accelerate growth and value. We are going to do both.
2015 was a banner year – we saw dramatic growth in terms of revenue, customers and employees. 2016 is already off to a fast start and all indicators point to that rate of growth increasing. We saw an opportunity to invest more rapidly and definitively in our strategy and we chose to pull the trigger.
In terms of strategic focus, we remain committed to solving the critical needs of enterprise development and broader IT organizations. The way applications are developed, deployed and managed has been transformed over the last 15 years by Agile and DevOps. The challenge today is that the way we manage databases has not changed. Julie Craig, research director with EMA, says the database problem is now “creating a bottleneck that isn’t compatible with organizational mandates to accelerate the speed of software delivery.” Enterprises are adopting Agile and DevOps practices to respond to the business needs of today’s digital economy, but they are still struggling to eliminate errors and deploy database changes quickly enough to keep pace with application release cycles in demanding markets. Datical is meeting this problem head-on and, in doing so, is bringing significant ROI to customers. We are bringing the same level of innovation to the database that we have seen in the application development and deployment disciplines.
For our customers, this means the solution they have chosen to solve their database challenges is only going to get better. We will continue investment in the Datical platform and deliver new capabilities that deliver even greater value and ROI. In addition our commitment to customer support and satisfaction is unwavering. As our install base continues to expand, our investment in support services will ensure Datical users can continue to count on unparalleled customer service. The market has clearly responded to that overall approach, making Datical the leader in modernizing database operations.
I consistently receive compliments from both customers and prospects on the quality of the Datical team. As Datical continues to experience brisk growth and the team expands, we will not compromise on hiring and retaining the best talent out there. I’m extremely proud of all this team has accomplished leading up to today…and we’re just getting started.
All the best,