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- Delphix
Delphix Acquisition, Valuation, Funding & Investors
Delphix was acquired by Perforce Software in February 2024.
Delphix acquisition price
Undisclosed
Acquired by Perforce Software · Feb 2024
Delphix revenue
$100M
Series D · Jul 2015
Cumulative funding Delphix raised
$75M
across 1 funding round
Key investors in Delphix
Lightspeed Venture Partners
Greylock
Fidelity
Icon Ventures
The Kraft Group
Credit Suisse NEXT Investors
About Delphix
Delphix is a Redwood City-headquartered data management company founded in 2008 that delivers a DataOps platform for virtualizing databases and applications. It supports mainframes, Oracle, SQL Server, ERP systems like SAP, and Kubernetes containers with self-service data delivery, masking, and compliance controls. Delphix enables DevOps teams at Fortune 500 firms including Barclays and Pfizer to provision test environments in minutes, cutting storage costs by 90 percent through continuous data sub-setting.
Founded
2008
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (Jul 2015)
Valuation
$981M (Jul 2015)
Delphix Acquisition
Delphix was acquired by Perforce Software for an undisclosed price on 13 February 2024.
Before the acquisition Delphix had raised $75M across 1 funding round.
Delphix, a Redwood City, California-based provider of industry-leading enterprise data management software, enables scalable automation, governance, and compliance of enterprise data throughout the application lifecycle, including on-demand delivery of test data, self-service test environments, and continuous testing for Shift Left practices. Over 15 years old, Delphix serves major brands across multicloud environments and 30% of Fortune 100 companies, focusing on data protection, masking, and rapid access for software development. Perforce Software, a Minneapolis-based provider of DevOps solutions for productivity, visibility, and scale in enterprise development lifecycles, backed by Francisco Partners and Clearlake Capital, signed a definitive agreement on February 14, 2024, to acquire Delphix, with financial terms undisclosed though street estimates suggested around $476 million. The strategic rationale centers on enhancing Perforce's infrastructure automation with Delphix's capabilities to address growing demand for enterprise-scale data management in testing, AI modeling, analytics, and DevOps pipelines, reducing storage costs and enabling faster, compliant software delivery for overlapping customers including 75% of Fortune 100 companies using Perforce. Centerview Partners advised Delphix financially, and Cooley provided legal counsel. The deal closed on March 25, 2024, subject to customary conditions, integrating Delphix to solve complex DevOps scaling challenges and maintain data integrity amid rising AI-driven data needs. Post-acquisition, Perforce emphasizes continued investment in Delphix's platform to expand data automation and compliance across its portfolio, positioning customers for competitive advantages in mission-critical application delivery while leveraging complementary technologies, teams, and global support structures.
| Acquirer | Date | Type |
|---|---|---|
| 13 Feb 2024 | Strategic M&A |
Delphix Valuation
Delphix is currently valued at $981M, based on its Series D in July 2015.
The $75M round was led by Fidelity, with participation from Credit Suisse NEXT Investors, Icon Ventures, The Kraft Group, Lightspeed Venture Partners and Greylock.
Delphix valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2015 | Series D | $981M | 9.8x |
Delphix Revenue
Delphix's latest recorded revenue is $100M, as of its Series D in July 2015. At a $981M valuation, that implies a 9.8x revenue multiple.
Delphix revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2015 | $100M | $981M | 9.8x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Delphix Funding History
Delphix has raised a total of $75M across 1 funding round.
Delphix funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2015 | Series D | Fidelity (lead); Credit Suisse NEXT Investors; Icon Ventures; The Kraft Group; Lightspeed Venture Partners; Greylock | $75M | $981M | Delphix is a Menlo Park-based data virtualization company offering 'data-as-a-service' technology that consolidates data into a master file for virtual cloning without duplication, enabling faster application releases, bug fixes, and cloud migrations—claimed to deliver data 100 times faster than traditional methods. The July 2015 funding round raised $75 million led by Fidelity Management and Research Company, with participation from Credit Suisse NEXT Investors, The Kraft Group, and returning investors Greylock Partners, Lightspeed Venture Partners, and Icon Ventures, bringing total funding to $119.5 million. TechCrunch described Delphix as an emerging unicorn with a $981 million valuation at the time, while Fidelity valued it around $850 million; proceeds were allocated to international expansion and enhancements in cloud, analytics, and data security technologies. By 2012, prior to this round, Delphix had achieved $200 million in software sales and served 30 percent of the Fortune 100 as customers, demonstrating strong early traction in enterprise data management. The company continued growth post-round without further public fundraising, reaching over $100 million in annual recurring revenue by fiscal year 2022 with profitability. In 2024, Perforce Software agreed to acquire Delphix, with street estimates suggesting a valuation up to $476 million—below the 2015 peaks—and all options above water. Delphix had navigated challenges including leadership changes and pandemic impacts but returned to accelerated growth under CEO Jed Yueh. |
Who has invested in Delphix?
6 investors have backed Delphix across its funding rounds, including Lightspeed Venture Partners, Greylock, Fidelity, Icon Ventures, The Kraft Group and Credit Suisse NEXT Investors.
Lead investors include Fidelity.
Delphix Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Jul 2015 | ||
| 1 | Lead | Jul 2015 | ||
| 1 | Participant | Jul 2015 | ||
| 1 | Participant | Jul 2015 | ||
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Start Free TrialAcquisitions by Delphix
Delphix has acquired 1 company to date.
Last acquisition by Delphix was on May 20th 2015. Delphix acquired Axis Technology for undisclosed valuation.
Latest Acquisitions by Delphix
| Description | Axis Technology is a New Jersey-based provider of data security and DevOps automation solutions. The company implements Delphix for data masking, delivery, and virtualization, alongside Amazon RDS management and cyber risk assessments. It serves financial services and healthcare clients from its East Coast operations. |
| HQ Country | |
| HQ City | Boston, MA |
| Deal Date | 20 May 2015 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Delphix acquisitions and their M&A valuation multiples. Start Free Trial | |
Delphix Competitors
Delphix competitors include listed companies like TRS Information Technology and Rackspace, and private ones like Augment Code, Pindrop, Altana and Augury.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $76M | ($20M) | $1.7B | 19.7x | ||
| Private | - | - | $977M | - | ||
| Private | - | - | $977M | - | ||
| Publicly listed | $2.7B | $244M | $997M | 1.6x | ||
| Private | - | $564M | $1B | - | ||
| Private | $100M | - | $1B | - |
Delphix Public Comps
Delphix is no longer listed, but its public comps include Rackspace, Appier Group, Extreme Vision, Rezolve AI, iFLYHealth, Beijing CTJ Info Tech, ODDITY Tech, Optasia, e-Hualu and Beijing Haitian Ruisheng.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.7B | $244M | 1.5x | 1.6x | 17.1x | 15.0x | |||
| $281M | $44M | 3.4x | 2.9x | 21.6x | 15.7x | |||
| $44M | ($6M) | 22.8x | 11.6x | (163.7x) | - | |||
| $47M | ($109M) | 23.3x | 4.0x | (10.0x) | (19.3x) | |||
| $136M | ($7M) | 7.7x | 6.2x | (150.8x) | (144172.5x) | |||
| $123M | $13M | 5.3x | 4.9x | 51.3x | 34.6x | |||
| $810M | $131M | 1.5x | 1.8x | 9.6x | 18.3x | |||
| $265M | $79M | 4.3x | 3.6x | 14.5x | 9.1x | |||
This data is available for Pro users. Sign up to see all Delphix competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Delphix
| When was Delphix founded? | Delphix was founded in 2008. |
| Where is Delphix headquartered? | Delphix is headquartered in San Francisco, CA, United States. |
| Is Delphix publicly listed? | No, Delphix was acquired by Perforce Software in February 2024. |
| Who acquired Delphix? | Delphix was acquired by Perforce Software in February 2024. |
| What is Delphix's valuation? | Delphix was last valued at $981M in its Series D in July 2015. |
| How much funding has Delphix raised? | Delphix has raised $75M across 1 funding round. |
| What was Delphix's last funding round? | Delphix's last funding round was a $75M Series D in July 2015, led by Fidelity. |
| Who are Delphix's investors? | Delphix's investors include Credit Suisse NEXT Investors, Fidelity, Icon Ventures, The Kraft Group, Lightspeed Venture Partners and Greylock. |
| What is Delphix's revenue? | Delphix's latest recorded revenue is $100M (July 2015). |
| What is Delphix's revenue multiple? | Delphix's latest valuation implies a 9.8x revenue multiple ($981M valuation on $100M of revenue). |
| Which companies are comparable to Delphix? | Companies comparable to Delphix include TRS Information Technology, Augment Code, Pindrop, Rackspace, Altana and Augury. |
| How many companies has Delphix acquired? | Delphix has acquired 1 company, including Axis Technology. |
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