Database Automation Software Maker Datical Adds $10M for New Hires
Austin—Datical, which sells software that automates the laborious process of manually updating a database during a software or application release, has added a $10 million Series C round of financing led by Cincinnati, OH-based River Cities Capital Funds.
The Austin, TX-based company plans to use the funding to make new hires in research and development, customer service, and sales and marketing, according to a news release. The new round brings Datical’s funding total to $27 million. Earlier investors S3 Ventures and Mercury Fund, which provided the company’s $8 million Series B round in 2016, also participated in the new funding. S3 is based in Austin and Mercury Fund is in Houston.
When a software developer writes a new script to update an app, database administrators have to take multiple measures, including reviewing the script to ensure it functionally fits in with the other data from the database and searching for glitches that could cause the app to stop functioning entirely. Datical CEO Derek Hutson told Xconomy in 2016 that his company’s tool does that all, and starts that process while the developer is still coding the update, which is earlier than a database administrator can get to it. The software makes the process faster and smoother, reducing the number of people that need to be involved, according to Datical.
Datical’s customers include large businesses such as MedImpact, Freddie Mac, Anthem (NYSE: ANTM), and Colonial Life. The company says its annual subscription revenue increased by 94 percent in 2018, while its customer base rose by 30 percent. The company didn’t reveal any more specific numbers.