Fivetran – a global leader in automated data movement – announced $125 million in financing from Vista Credit Partners, a subsidiary of Vista Equity Partners and strategic credit and financing partner focused on the enterprise software, data, and technology markets. This investment will be used to support Fivetran’s continued innovation and enterprise growth, bolstering its leadership position in the automated data movement market.
Over the past year, Fivetran has demonstrated significant momentum and continued growth. The company milestones include:
— Achieved $200+ million in annual revenue run rate – a 50% year-over-year increase;
— Named Partner of the Year by Google Cloud, Snowflake, and Databricks;
— The company expanded its customer roster to now serve over 5,000 global brands, including Autodesk, Conagra Brands, JetBlue, Lionsgate, Morgan Stanley, and Ziff Davis;
— The company saw record usage totaling over 180,000 connectors synced per month. And Fivetran moves over 2,500 TB of data monthly managing over 1.3 million schema changes with a 99.9% guaranteed uptime for customers; and
Plus Fivetran also continued to add new product functionalities in the last year. The key updates include the introduction of Fivetran’s Metadata API which simplifies data governance for enterprises by automating the tracking of data in-flight. Plus the company introduced new enterprise-grade capabilities including support for Amazon S3 with Apache Iceberg which makes data lakes more effective and accessible for all users across the organization; High-Volume Agent (HVA) Connectors, AWS Gov Cloud support and private deployment – setting the industry standard with options for all deployment types for secure, real-time and high-volume database replication; and Lite connectors, which allow Fivetran to connect to virtually any SaaS application.
KEY QUOTES:
“In today’s macroeconomic climate, many of the most successful companies are data companies. From making revenue-impacting decisions to driving operational efficiencies, enterprises rely on data to run their business. Data availability across an organization cannot be something in question. Access must be as simple and as reliable as electricity. Fivetran’s automated data movement platform helps enterprises connect to all of their data – whether on prem or in the cloud – with 99.9% guaranteed uptime. The financing will allow us to accelerate R&D and expand our automated data movement platform as we continue to scale globally.”
— George Fraser, CEO at Fivetran
“Fivetran is an ideal partner for Vista Credit Partners as a founder-led, scaled and growing category leader providing mission-critical solutions to modern businesses. We are pleased to provide non-dilutive credit solutions and operational support to George and the entire team as they continue to innovate and help more companies become data-driven.”
— David Flannery, President at Vista Credit Partners
