Goldman Sachs and Accel Partners are exiting Zoomdata, sources familiar with the transaction told Buyouts.
The firms are selling their stakes to Marlin Equity-backed Logi Analytics, the people said.
Marlin & Associates, a tech-focused boutique investment bank, is advising Zoomdata on the transaction.
Zoomdata is the San Mateo, California, provider of data visualization and visual analytics software for business users in financial services, telecom and healthcare. The company renders big data into visualizations and analyses — histograms, bar charts, graphs, interactive maps and dashboards — at high speed.
Zoomdata has failed to gain momentum and is not cash positive, one source familiar with the business said.
The deal with Marlin Equity is valued at below $50 million, another source said.
Logi Analytics, which is acquiring Zoomdata as an add-on, is also an analytics platform. It is focused exclusively on embedding analytics in commercial and enterprise applications. Marlin Equity acquired Logi Analytics in October 2017.
In February 2016, Goldman Sachs’ Principal Strategic Investments Group led Zoomdata’s $25 million Series C equity financing round. Comcast Ventures also joined the round as a new investor at that time.
In October 2014, Zoomdata raised $17 million in Series B funding led by Accel Partners. NEA, Columbus Nova Technology Partners, Razor’s Edge Ventures and B7 also participated in the round.
Whether those investors are selling their stakes along with Accel and Goldman Sachs is unclear.
Marlin Equity, Logi Analytics and Goldman Sachs declined comment. NEA, Columbus Nova, Razor’s Edge and B7 did not return Buyouts’ request for comment. Accel Partners, Zoomdata and Comcast Ventures could not immediately be reached.
Action Item: Call Marlin Equity in Los Angeles at +1 310-364-0100.