Mubadala Investment Company, Abu Dhabi’s strategic investment arm, has invested in US-based enterprise software company Medallia as part of its drive to focus on industries of the future.
The minority investment in the customer experience management specialist took place in conjunction with Thoma Bravo, which recently took Medallia private, Mubadala said on Wednesday. He did not disclose the value of the investment.
Thoma Bravo took San Francisco-based Medallia private in October in an all-cash transaction valued at $6.4 billion.
Medallia captures customer and employee experience data across multiple channels. The data is then analyzed using the company’s proprietary artificial intelligence and machine learning technology to provide predictive insights to drive actions and business results.
Mubadala intends to diversify its asset base while continuing to increase its investments in technology and healthcare.
In 2020 alone, at the height of the Covid-19 pandemic, the Abu Dhabi-based company invested $29.4 billion, including in technology and life sciences, sectors vital for the future United Arab Emirates and Mubadala.
It invested $250 million in US biosimulation software company Certara in July as part of its international healthcare and investment portfolio.
In March, the fund agreed to invest £800 million in the UK life sciences industry over the next five years as part of a £1 billion deal between the UK and the United Arab Emirates.
Mubadala is central to the government’s plans to diversify Abu Dhabi’s revenue base and generate revenue from sources other than oil.
The sovereign wealth fund’s $243.4 billion investment portfolio spans five continents. She has interests in aerospace, information and communications technology, semiconductors, metals and mining, renewable energy, oil and gas and petrochemicals.
Updated: December 8, 2021, 1:26 p.m.