Updata Partners Closes Software Growth Equity Fund, At $608M

updata partners

Updata Partners, a Washington, DC-based growth equity investment firm focused on B2B software companies, closed Updata Partners VII, L.P., at more than $608 million.

The fund brings committed capital to more than $1.5 billion.

Founded in 1998 and led by Carter Griffin and Jon Seeber, General Partners, Updata Partners invests in B2B software & software-enabled businesses. The firm’s investment approach is the following:

  • $5M – $50M+ in revenue
  • 25% – 100%+ growth
  • Bootstrapped or lightly capitalized
  • Non-Bay Area
  • $15M – $100M+ equity

Updata VII seeks to invest in management teams that are looking for both capital and a value-add strategic partner.

The firm’s recent investments include Improvado, CData, Shufti Pro, Landtech, Altus Assessments, Vector Remote Care, Living Security, BoxCast, Liongard, Practifi, and Bigleaf Networks.