- Automated data integration technology company Fivetran announced recently it raised $44 million in Series B funding
Fivetran — an automated data integration technology company that helps analysts centralize data into cloud warehouses — announced recently that it raised $44 million in Series B funding. This round of funding was led by Andreessen Horowitz (a16z) and includes participation from existing investors Matrix Partners and CEAS Investments. In conjunction with the funding round, Andreessen Horowitz general partner Martin Casado is joining the company board of directors.
“Data-driven insights are essential for building successful organizations, but the rapid growth of cloud-derived data makes it hard to provide a centralized view of marketing, sales, finance or HR,” said George Fraser, co-founder and CEO of Fivetran. “We automate the data integration required to centralize data in cloud warehouses, eliminating the need to build complex data pipelines.”
In the past year, the Fivetran team has doubled its customer base of traditional enterprises and modern organizations. And it now serves more than 750 companies, including DocuSign, Lime, Optimizely and Urban Outfitters.
“Fivetran technology solves the last remaining hurdle to widespread adoption of data analytics programs — data centralization,” added Martin Casado, general partner at Andreessen Horowitz. “Instead of struggling to build and maintain a data connector for each individual data source, which is a resource-intensive engineering task, organizations can now automate the entire process in minutes — a feat many thought impossible.”
Fivetran’s technology enables companies to focus their efforts downstream. On average companies will spend about $500,000 over four years to centralize just 10 data sources and most companies have tens to hundreds of data sources. And with Fivetran, those resources can be focused on actually analyzing the data rather than just getting it ready.
And Fivetran’s customers that have modernized and transformed their analytics programs are saving time and money on data integration. And they are unlocking new revenue streams and uncovering opportunities for innovation and product development.
Fivetran was able to emerge as an essential starting point for data and analytics in the cloud. And its technology works seamlessly with other modern data infrastructure companies and managed services such as Snowflake, Google Cloud, Looker, Tableau, Microsoft Azure and more.
The company’s prebuilt data connectors automatically adjust to schema and API changes to protect the continuity of data projects. And additional tools such as Fivetran Transformations, Powered by Fivetran and cloud function support also help reduce the time to value of company analytics initiatives.
“We really like what Fivetran enables us to do,” explained Marcus Laanen, a Senior Manager of Business Intelligence for DocuSign. “It is incredibly easy, fast and reliable. This is the future of data pipelines and ETL, and Fivetran is at the forefront of it.”
Fivetran’s technology enables companies to take full advantage of their exponentially growing data, and it empowers teams to focus on business intelligence, process enhancement, machine learning and more.
This past year, Fivetran achieved rapid growth and expanded operations in EMEA and increased personnel across virtually every department. Plus Fivetran closed its second venture round after reporting a 3x increase in revenue and 2x growth in customers over the last 12 months.
Fivetran plans to use the funding to build on the demand for its technology, advance its automated services to more sources and destinations, and scale operations with plans to hire across all locations Oakland, Denver, Dublin, and Bangalore.
