The funding streak continues in the Triangle as the holiday approaches.
Last week a slew of growth-stage companies added to their coffers, the biggest being Chapel Hill’s CData Software, a cloud connectivity firm that self-reported a $140 million Series B financing. The firm, which counts companies like SAS and Google (Nasdaq: GOOG) as users, actually raised $139.4 million from five investors, according to a securities filing Dec. 16. According to CData, growth equity investment firm Updata Partners led the round. Updata Partners is the same firm behind CData’s last fundraise, a 2020 $20 million round.
CEO Amit Sharma said the new funding would mean 50 percent head count growth in the next year. The company currently has 200 employees, primarily in the Triangle. And demand for its products has been increasing, Sharma told Triangle Business Journal last week.
“With Covid, the need for the cloud has grown more rapidly than any of us had anticipated. The workforce is more remote, more distributed,” Sharma said. “Getting people to work together and collaborate requires these cloud systems and so data is increasingly going toward the cloud.”
CData was one of several Triangle firms raising capital last week, securities filings show.
Bryn Pharma, a Raleigh firm pushing forward an epinephrine nasal spray that could treat anaphylaxis – no needle required – added $23.1 million to a previously-announced round that now totals nearly $28.3 million.
Durham advertising technology firm Kevel, which had self-reported a $10 million round, dropped its disclosure. It contained new information on the $10 million, including that it came from 12 investors.
Green Places, a Raleigh technology firm working to help small business reduce their carbon footprints (and one of 22 startups to watch in 2022) added $425,000 to its coffers.
APJet of Morrisville launched a new funder. While it hadn’t raised a single dollar when the funding disclosure dropped, it did have a $1 million target. APJet is a plasma technology company with a focus on textile finishing.