Tech focused growth equity firm
Overall Rank: 48
Category: Emerging Growth
Category Rank: 14
Comments are closed.
Updata Partners is a leading technology-focused growth equity firm based in Washington, D.C. Led by an investment team averaging more than 25 years of technology experience, and who began their software careers working in operating companies, Updata invests in high-growth B2B software and software-driven businesses where the combination of capital and operating experience will help accelerate success. Updata has partnered with more than 75 entrepreneurs to date, and has raised more than $1.5 billion in committed capital.
2022 Top 25 Growth Equity Firms
2022, Best Growth Investment Firms
2020 Top 25 Growth Equity Firms
Carter Griffin, General Partner
Carter Griffin is a General Partner, co-manages the firm, and has been a member of Updata’s investment team since 2005. He has more than 20 years of experience as an operator and investor in the software industry. Before joining Updata, Carter co-founded Brivo Systems and served as Chairman and CEO until selling the company to a strategic acquirer. Carter also spent four years as a Senior Vice President at Kaiser Associates, where he advised Fortune 500 clients. Carter graduated from the University of North Carolina at Chapel Hill with a B.S. in business administration. He also holds an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University.
Jon Seeber, General Partner
Jon Seeber is a General Partner, co-manages the firm, and has been a member of Updata’s investment team since 2006. He has more than 20 years of experience as a software operator and investor. Before joining Updata, Jon worked on the Business Development team inside IBM Global Services, managing key growth activities for IBM’s largest business unit. Earlier in his career, Jon served on Active Duty and in the Reserve as an officer in the United States Air Force. He also spent time as a developer, and holds two U.S. patents in network optimization and network security. Jon graduated from Duke University with a B.A., majoring in computer science and history. He also holds an M.B.A. from Harvard Business School.
Braden Snyder, Partner
Braden Snyder joined Updata Partners in 2014 and is a Partner. Prior to joining Updata, Braden was an Associate at Sagent Advisors, a middle-market investment banking firm, in the Software & Systems and Aerospace, Defense & Technology groups where he focused on providing M&A and strategic advisory services to clients. Braden graduated from the University of Virginia’s McIntire School of Commerce with a B.S. in commerce, with concentrations in finance and accounting.
Updata was founded in 1998 by operators from the software industry. Since then, the firm has closed seven funds totaling over $1.5 billion. The latest fund was announced in May 2022 and was oversubscribed at $608 million.
Since inception, Updata has invested in over 75 software businesses, completed over 55 exits, and raised more than $1.5 billion of committed capital.
Select Updata investments include Alert Logic, Built In, Bigleaf Networks, CData, Foresee, Glassbox, HG Insights, Jellyvision, Homesnap, Liongard, Living Security, Netwrix, Nintex, Piano, Ruby, Storyblocks, Viewpoint Construction Software, Vector Remote Care, and XebiaLabs. Notable recent investments include Benivo, Improvado, LandTech, Nerdio, and Shufti Pro.
Updata recognizes the importance of strong environmental, social, and governance (ESG) practices in creating exceptional outcomes for all stakeholders. The firm evaluates ESG considerations as part of its investment process, and assists portfolio companies in implementing and maintaining ESG best practices while holding itself to the same standards.
Updata is dedicated to promoting diversity, equity, and inclusion. The firm is a proud signatory of ILPA’s Diversity in Action initiative and is committed to building diverse management teams and boards of directors.
The firm is also dedicated to giving back to the DMV community and sponsors regular service days for various local causes.
Amit Sharma, CEO, CData Software
“The quality and authenticity of the people at Updata is what makes them unique. Carter and his team are true partners who understand the operating challenges of a business and are vested in your success. They have been a great partner at the board level. They have helped add senior management (CRO, CFO, CPO). They have helped us develop key SaaS metrics as part of board reporting. They have made connections to talented employees, recruiters, customers, acquisition targets, and investment bankers, that have all helped us grow the business.”
Amanda Lannert, CEO, Jellyvision
“Updata is a thoughtful, strategic, and patient investor who looks for quality companies and plays the long game. They put customers and employees first in their counsel because they know ultimately that’s what creates great companies and therefore great shareholder value. They provide smart, unobtrusive counsel, and are a great resource for portfolio companies.”
TJ Leonard, CEO, Storyblocks
“Updata delivers on the promise of bringing an operator’s perspective to your board. They consistently provided valuable insight based on their collective experience, and yet understood the importance of empowering management to make the critical decisions about talent, strategy and product investments.”
Vadim Vladimirskiy, CEO, Nerdio
“Working with Updata has been amazing. They have met and exceeded our expectations. They are responsive and will proactively roll up their sleeves to help with a wide range of initiatives from hiring and corporate development to financial planning and vendor negotiations. No ask is too big and we are thrilled to be partnered with such an experienced and knowledgeable team who are responsive and always willing to help.”
Trevor Kaufman, CEO, Piano
“Updata has been a supportive and management-friendly investor to our company through thick and thin. I would recommend them to another CEO without any qualifiers or hesitation.”
Maria Katris, CEO, Built In
“An investor’s temperament in and out of the Board room is what sets them apart from others. This road is long, and rarely easy, Updata understands this and their temperament, and returns, are proof of it.”
Ashley Rose, CEO, Living Security
“When looking for a growth partner, industry expertise and alignment with vision were at the top of my list. Jon and the Updata team brought both and so much more; strong character, willingness to dig in where helpful, provide constructive feedback and support; they have been true partners all around.”