Datical, which helps companies automate databases, Thursday announced it has received $10 million in funding.
River Cities Capital Funds led the Series C funding round with participation from existing investors S3 Ventures and Mercury Fund.
As part of the deal, Adam Midkiff, vice president at River Cities, has joined Datical’s board of directors.
Austin-based Datical, founded in 2013, plans to use the funds on research and development, customer service, and sales and marketing. To date, the company has raised $27 million. Datical was co-founded by Daniel Nelson, Robert Reeves, and Pete Pickerill — all founders of Phurnace Software, which was acquired by BMC Software in 2010.
“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,” Derek Hutson, CEO of Datical, said in a news release. “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.”
Datical’s software lets companies update applications on their databases easily and efficiently
“Datical is solving a critical, yet often overlooked problem facing development teams today,” Adam Midkiff, vice president of River Cities, said in a news release. “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 reported strong results for 2018, increasing its annual subscription revenue by 94 percent and increasing its customer base by 30 percent, according to a news release. Its customers include Freddie Mac, Anthem, Colonial Life and Zions Bancorporation.
Last year, Datical moved into new, larger 12,000 square foot headquarters at 9211 Waterford Centre Blvd, near the Domain. The company has less than 100 employees with plans to grow the team by 25 percent.