PE Deals

FTV Capital invests $75m in software engineering firm DataArt

With this investment from FTV Capital, Richard Liu, a partner at FTV Capital, will join DataArt’s board of directors.

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  • DataArt will use the new funding to accelerate its momentum, scale its global delivery capacity and secure its position as a provider for custom cloud and data software services
  • FTV invests in enterprise technology and services, financial services, and payments and transaction processing
  • Founded in 1998, FTV Capital has invested in over 130 portfolio companies

DataArt, a global software engineering firm, has secured a $75 million minority growth investment from FTV Capital.

DataArt will use the new funding to accelerate its momentum, scale its global delivery capacity and secure its position as a provider for custom cloud and data software services.

“DataArt has already proven successful in building an exceptional, scaled platform for software engineering with a deep focus on its customers and people,” said Richard Liu, a partner at FTV Capital, in a statement. “When FTV decided to invest at the beginning of this year, DataArt was already in a very strong financial position, but we came together around a shared ambition to catalyze the company’s growth.”

DataArt’s 2021 revenue exceeded $290 million, a record 60 percent year-over-year increase from 2020, according to the company. The company expanded operations in Europe, Central Asia, and the Middle East, while building on its existing footprint in Latin America.

In response to the war in Ukraine, DataArt helped relocate approximately 1,300 staff to offices in other markets, accelerating hiring in 14 countries, and was able to provide minimal interruption in the delivery of services as a result.

With this investment from FTV Capital, Richard Liu, a partner at FTV Capital, will join DataArt’s board of directors.

Headquartered in New York City, DataArt now employs over 6,000 professionals in 20+ locations throughout the United States, Europe, and Latin America, with clients including major global brands like Intersport, Unilever, Ocado, NASDAQ, Turquoise and Flutter Entertainment.

FTV Capital is a growth equity investment firm that has raised $6.2 billion. The firm invests in three sectors: enterprise technology and services, financial services, and payments and transaction processing. Founded in 1998, FTV Capital has invested in over 130 portfolio companies.