There’s smart money. Then there’s disciplined money. And then there’s the kind of money that doesn’t chase noise, it funds signal. Updata Partners just closed Updata Partners VIII at $875M. Oversubscribed. Hard cap. 6 months. In a market where capital has been picky and LPs read every footnote twice. That’s not luck. That’s reputation compounding.
Carter Griffin and Jon Seeber, both General Partners, aren’t tourists in this game. Alongside General Partner Braden Snyder, they’ve built a firm that understands something most funds forget when the market gets frothy. Software is not about flash. It is about durability. Recurring revenue. Capital efficiency. Founders who know how to grow without lighting cash on fire just to look warm.
Updata writes checks from $20M–$200M into B2B software companies doing $5M–$50M in revenue. Majority or minority. Often the first institutional capital in. Translation: they show up before the crowd, when the story is still being written and the metrics still have edge.
And they do it outside the usual echo chambers. Not just Silicon Valley. Not just the same zip codes trading logos back and forth. They hunt where others scroll past. That edge compounds too.
The firm was founded in 1998 by Barry Goldsmith and John Burton, both Operating Partners and co founders who built and exited software businesses before growth equity became cocktail chatter. Ira Cohen, also an Operating Partner with co founding roots, helped shape the DNA. Operators first. Capital second. The order matters.
Updata VIII pushes total capital raised past $3B. That scale does not happen by accident. It happens when limited partners see consistency. When portfolio companies feel the value creation team in the trenches, shoulder to shoulder, not hovering at board meetings pretending to add value.
Jon Seeber put it plainly. AI is accelerating the formation of high growth, lightly capitalized businesses. Updata is leaning in. Not chasing headlines. Backing builders. There’s a difference.
For B2B software founders sitting in that $10M–$30M revenue pocket, capital efficient, ambitious, maybe overlooked because you are not in the loudest room, Updata’s model is a signal flare. This is what disciplined growth equity looks like when it scales without losing its spine.
