Enterprises are investing heavily in AI to gain a competitive edge, but many are facing challenges in getting the expected ROI due to data integration issues. CData, a company specializing in data access and connectivity solutions, recently secured $350 million in funding to address this integration dilemma. This investment will allow CData to further enhance its platform, enabling engineers and business users to access and integrate data from any source or system.
The technology stack of enterprises today consists of complex systems and applications, leading to a surge in enterprise data volume. However, most of this data remains siloed within the organization, making it difficult to utilize it effectively for downstream AI and analytics projects. CData’s connectivity platform offers purpose-built connectors that address both replication and live data access use cases. This allows companies to synchronize data from various sources and access real-time data for analysis and reporting.
With over 300 data connectors in its library, CData serves more than 7000 global organizations, including major names like Office Depot, Holiday Inn, Tesco Bank, and FedEx. The company has also partnered with data management providers and software vendors to embed its connectors into their platforms, offering expanded connectivity solutions to their customers.
As the demand for AI integration tools continues to grow, CData aims to capitalize on this trend by investing in operations, go-to-market strategy, and product development. The company plans to enhance its existing connectors and introduce new ones to simplify data integration for modern AI initiatives. With a focus on providing the best connectivity solutions to meet customer needs, CData projects to reach $100 million in annual recurring revenue by the end of the year.
The global data integration market is projected to reach $43.38 billion by 2033, driven by the increasing volume and variety of data. CData faces competition from other players in the space like HighTouch, Syncari, and Matillion. However, with its recent funding and focus on enhancing connectivity solutions, CData is well-positioned to meet the evolving needs of enterprises in the AI-driven era.
