Fivetran, a provider of automated data integration software, has raised $100 million in Series C financing, enabling the company to accelerate global expansion, drive adoption in the enterprise market, and continue building out the depth and breadth of its data connectors.
The round was led by Andreessen Horowitz (a16z) and General Catalyst, with participation from existing investors CEAS Investments and Matrix Partners. Total fundraising now stands at $163 million with a current valuation of $1.2 billion.
Fivetran solves a key problem faced by companies today: centralizing data for analysis without wasting engineering resources on building and maintaining individual connectors. Fivetran gives analysts and data engineers more time for value-added work by automating the integration and maintenance of every data pipeline to ensure reliable, accurate access to data.
Fivetran is growing rapidly, landing new customers quarter over quarter, as well as expanding the use of Fivetran across current customers.
The total customer base now stands at over 1,100 companies, including global brands such as BJ’s Restaurants, ClassPass, Conagra Brands, Databricks, DocuSign, Forever 21, Lime, Square, Udacity and Urban Outfitters.
Fivetran has also continued to expand around the world, recently opening a new office in Sydney, Australia to continue growing its footprint in the Asia-Pacific region. Fivetran opened new offices in Germany (Munich) and London, and expanded its India operations with a new office in Bengaluru in the past year as well.
“From the start, our vision has been to make access to data as simple and reliable as electricity,” said George Fraser, CEO of Fivetran. “Besides conducting back-channel calls with customers as part of their fundraising due diligence, every investor cited our Glassdoor reviews and the unique culture we've created at Fivetran. That culture has enabled us to execute consistently since the beginning and is critical as we continue to pull away from the pack in our pursuit to connect every data source and make them all work perfectly.”
Trevor Oelschig, managing director at General Catalyst Growth, will also join the Fivetran board.
For more information about this news, visit https://fivetran.com/.