Open Source Data Integration Company Closes $26 Million Series A Funding Round

Airbyte,  creator of an open source data integration platform, has raised more than $26 million in Series A funding.

Airbyte seeks to create a new standard of moving and consolidating data from different sources to data warehouses, data lakes, or databases in a process referred to as extract, load, and, when desired, transform (ELT). Businesses can create data pipelines from sources such as PostgreSQL, MySQL, Facebook Ads, Salesforce, Stripe, and connect to destinations that include Redshift, Snowflake, and BigQuery.

The company says it solves two problems: First, companies always have to build and maintain connectors on their own—most “long tail'' data connectors are orphans that are not supported by closed-source ELT technologies. Second, data teams often have to do custom work around pre-built connectors to make them work within their data architecture. The open source approach addresses both problems with a user community that supports more connectors, which can be shared and used widely.

The funding round was led by Benchmark, with participation from additional investors including 8VC, Accel, SV Angel, and YCombinator, as well as Shay Bannon, co-founder and CEO of Elastic, Auren Hoffman, co-founder of LiveRamp, and Dev Ittycheria, CEO of MongoDB. Benchmark general partner Chetan Puttagunta will also be joining the board of directors.

The round follows a seed round in March 2021 of $5.2 million, led by Accel, and brings the total funding to $31.2 million. 

Airbyte has fostered a community of more than 1,000 users to build and maintain open source connectors. To date, there are 70 connectors that Airbyte is certifying to ensure they are production-ready. By the end of this year, the company anticipates it will reach 200 connectors, which would be the most pre-built connectors in the market. It recently introduced its Connector Development Kit (CDK) in order to enable its user community to accelerate development and quickly address the long tail of connectors.

The Airbyte connectors run in Docker containers, and can be deployed in minutes on any cloud platform. Airbyte also enables connectors to be built in any programming language. 

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