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 provider of unified data management platforms, today announced the award 150 million dollars in growth capital from Bain Capital Tech Opportunities, which represents a minority interest in the company. The funds will be used to strengthen its go-to-market engine, continue to invest in new product innovations and expand its global reach. These efforts will allow Ataccama to build on its significant growth and solidify its position at the forefront of data management and governance.
Ataccama was spun off from Adastra in 2007 and offers global companies the ability to massively scale data-driven innovation to accelerate business outcomes. The company’s platform Atacama ONEunifies data governance, data catalog, data quality, and master data management capabilities across hybrid and cloud environments, enabling organizations to democratize their data while maintaining data accuracy, control, and governance.
“Companies need better and more meaningful data to compete in today’s evolving marketplace, and they know that this requires greater collaboration between IT and business analysts,” he said Dewey Awad, a managing director at Bain Capital Tech Opportunities. “Atacma’s cloud-friendly, industry-leading platform makes it easy for technical and non-technical roles to collaborate on data quality and governance. Demand for the platform has resulted in a significant increase in the company’s average transaction size, resulting in incredible momentum. We see a significant runway for further growth.”
During the first quarter of fiscal 2022, Ataccama welcomed a new customer every three days on average and significantly expanded its presence 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 and Challenger in the 2021 Gartner Magic Quadrant for Master Data Management (MDM) Solutions.
“Large organizations struggle to scale and decentralize their data initiatives and enable data democratization while maintaining control of their data from quality, governance, privacy and security concerns. Ataccama ONE Gen2 provides a seamless way for both technical and non-technical ‘data people’ across the organization to create high quality, governed, secure and reusable data products. This has fueled Ataccama’s growth in annual recurring revenue and subscriber retention,” said Michael Klaus, CEO of Ataccama. “Bain Capital Tech Opportunities shares our business vision and mission, and this additional capital will allow us to meet growing demand and scale our operations while accelerating innovation.”
Ataccama has more than 450 employees and 10 offices worldwide. In 2021, the team expanded with more than 150 new employees, an increase of almost 160% compared to the previous year. The company also recently announced the opening of its newest location in Melbourne, Australia.
Ataccama is reinventing the way data is managed to create enterprise-level value. By unifying data governance, data catalog, data quality, and master data management into a single, AI-powered structure across hybrid and cloud environments, Ataccama empowers your business and data teams to innovate at unprecedented speed while maintaining confidence, Security and governance for you to keep true data. Learn more at www.ataccama.com.
About the technical capabilities of Bain Capital
Bain Capital Tech Opportunities (www.baincapitaltechopportunities.com) aims to help growing technology companies realize their full potential. We focus on companies in large, growing end markets with innovative or disruptive technology that we believe can support transformative growth. Our dedicated permanent team has extensive experience supporting growing technology companies and brings together differentiated backgrounds in private and public equity investing and technology operations roles. We invest behind fundamental, long-term tailwinds as technology encroaches across industries, creating a large and growing array of investment opportunities. Bain Capital Tech Opportunities focuses on five priority sub-industries: Application Software, Infrastructure & Security, Fintech & Payments, Healthcare IT, and Internet & Digital Media.