Funding Will Enhance Go-to-Market and R&D Initiatives While Accelerating Global Expansion; Will Enable the Ataccama Mission to Democratize Data in Large Organizations
TORONTO and BOSTON, June 22, 2022 /PRNewswire/ -- Ataccama, a leading unified data management platform provider, today announced it has received $150 million in growth capital from Bain Capital Tech Opportunities, representing a minority investment in the company. The funds will be used to strengthen its go-to-market engine, further invest in new product innovation and expand its global reach. These efforts will allow Ataccama to build on its significant growth and cement its position at the forefront of the data management and governance sectors.
Spun off from Adastra in 2007, Ataccama provides global enterprises with the ability to massively scale data-driven innovation to accelerate business outcomes. The company's platform, Ataccama ONE, unifies data governance, data catalog, data quality and master data management functions across hybrid and cloud environments—enabling organizations to democratize their data while maintaining data accuracy, control and governance.
"Businesses require better and more actionable data to remain competitive in today's evolving marketplace, and they understand this requires stronger collaboration between IT and business analysts," said Dewey Awad, a Managing Director at Bain Capital Tech Opportunities. "Ataccama's cloud-friendly, best-in-class platform makes it simple for technical and non-technical roles to collaborate on data quality and governance. Demand for the platform has driven a significant increase in the company's average deal size, fueling incredible momentum. We see a significant runway for further growth."
In Q1 of fiscal year 2022, Ataccama averaged welcoming a new customer every three days, significantly expanding its footprint in the banking, financial services, insurance, life sciences, healthcare and retail industries. The company also doubled its annual recurring revenue (ARR) in 2021 and was named a Leader in both the 2021 Gartner Magic Quadrant for Data Quality Solutions and 2021 Forrester Wave: Data Governance Solutions, Q3 2021 as well as a Challenger in the 2021 Gartner Magic Quadrant for Master Data Management (MDM) Solutions.
"Large organizations are struggling to scale and decentralize their data initiatives and enable data democratization, while at the same time keeping their data under control from a quality, governance, privacy and security perspective. Ataccama ONE Gen2 provides a seamless way to empower both technical and less technical 'data people' across the organization to create high-quality, governed, safe and reusable data products. This has propelled Ataccama's growth in annual recurring revenue and client retention," said Michal Klaus, Chief Executive Officer of Ataccama. "Bain Capital Tech Opportunities shares our business vision and mission, and this additional capital will enable us to meet growing demand and scale our operations while accelerating innovation."
Ataccama has more than 450 employees and 10 offices globally. In 2021, it added more than 150 new employees to its team, a year-over-year increase of nearly 160%. It also recently announced the opening of its newest location in Melbourne, Australia.
Ataccama reinvents the way data is managed to create value on an enterprise scale. Unifying Data Governance, Data Catalog, Data Quality and Master Data Management into a single, AI-powered fabric across hybrid and cloud environments, Ataccama gives your business and data teams the ability to innovate with unprecedented speed while maintaining trust, security and governance of your data. Learn more at www.ataccama.com.
Bain Capital Tech Opportunities (www.baincapitaltechopportunities.com) aims to help growing technology companies reach their full potential. We focus on companies in large, growing end markets with innovative or disruptive technology where we believe we can support transformational growth. Our dedicated, tenured team has deep experience supporting growing technology businesses—bringing together differentiated backgrounds in private and public equity investing as well as technology operating roles. We invest behind fundamental long-term tailwinds as technology penetrates across industries, creating a large and growing number of investment opportunities. Bain Capital Tech Opportunities focuses on five priority sub-verticals: Application Software, Infrastructure & Security, Fintech & Payments, Healthcare IT and Internet & Digital Media.
For Ataccama, Americas, JaeMi Pennington, Metis Communications, Ataccama@metiscomm.com; EMEA & APAC, Ed Bell, Babel PR, ataccama_uk@babelpr.com; For Bain Capital Tech Opportunities, Charlyn Lusk, Stanton, clusk@stantonprm.com
