Goldman Sachs-Backed DataStax in $115m Round After This

  • Cloud database firm DataStax has raised $115 million in a private equity funding round. 
  • The firm won the backing of investment banking giant Goldman Sachs. 
  • Insider got an exclusive look at the pitch deck DataStax used to bring investors on board. 

Cloud database startup DataStax recently raised $115 million in a private equity round backed by banking giant Goldman Sachs. The firm said it would use the funds to fuel the global expansion of its services.

The California-based company, founded in 2010, hopes to bounce back after an uncertain few years. The firm laid off dozens of employees in 2020, and delayed its much-anticipated IPO after cloud computing giant Amazon Web Services announced the launch of a rival database service. 

Now ex-Google VP Chet Kapoor, who joined DataStax as chief exec in 2019, says the firm is on the way back up, telling InfoWorld in April: “The IPO will happen.” 

“It’s a great event, you raise a lot of money, it’s a great marketing event for the company. But it is an event, and you get past it,” he said. “As we look at our numbers, and we’re spending time at investor conferences, we know we’re ready now. But we’ll be patient.”

Kapoor previously served as chief exec of predictive analytics firm Apigee, where he oversaw that firm’s IPO. He joined Google shortly after the tech giant bought the firm for $625 million in 2016. Since taking the reins at DataStax, Kapoor has put developers at the heart of the company’s future success, using its growing community of users as a bulwark against competitors. 

Alongside Goldman Sachs, the firm’s most recent funding round was also backed by RCM Private Markets, EDB Investments, Crosslink Capital, Meritech Capital Partners, and OnePrime Capital. According to Crunchbase, the firm has raised $342 million to date, reaching a $1.6 billion valuation. 

Insider got an exclusive look at the pitch deck DataStax used to bring investors on board. Check it out below: