Database Release Automation Market Growth Continues as Datical Secures $10 Million in Series C Funding
Datical, the leading provider of database release automation solutions, today announced $10 million in Series C funding led by new investor River Cities Capital Funds, with participation from existing investors S3 Ventures and Mercury Fund. Additionally, Adam Midkiff, vice president at River Cities, has joined Datical’s board of directors.
The company will use the funds to sustain its tremendous growth by expanding its research and development, customer success capabilities, and sales and marketing functions. This latest round brings the total investment in the company to $27 million to date.
“We are the market leader and have seen enormous growth in the last three years. This funding provides fuel for further innovation and expansion as Datical’s remarkable momentum has proven that modernizing the database release process is a necessary step in any digital transformation journey,” said Derek Hutson, CEO of Datical. “We’re honored to have River Cities on board as we enter this next phase of growth and begin an exciting new chapter of transforming software development.”
As enterprises continue to embrace Agile, DevOps and Continuous Delivery practices to bring applications to market faster, the manual process of deploying database changes creates a bottleneck for development teams. Datical enables enterprises to keep up with the rapidly accelerating application release cycle by automating database releases, while eliminating risks that cause application downtime and data security vulnerabilities.
“Datical is solving a critical, yet often overlooked problem facing development teams today,” said Adam Midkiff, vice president of River Cities. “The company is uniquely positioned to change the way that organizations improve the customer experience through software, and we’re excited to work with such an innovative team on achieving this mission.”
Datical closed 2018 increasing annual subscription revenue by 94 percent and growing its customer base by 30 percent year-over-year, including enterprises such as MedImpact, Freddie Mac, Anthem, Colonial Life and Zions Bancorporation. Additionally, in 2018 the company relocated its Austin headquarters to accommodate an aggressive employee growth trajectory.