American data analytic startup Fivetran, whose automated data integration technology helps analysts centralize data into cloud warehouses, on Tuesday announced that it has raised $44 million in Series B financing round. Almost less than a year ago, the startup fetched $15 Mn in a series A round.
Fivetran raises $44 million in Series B round
Andreessen Horowitz (a16z) spearheaded the funding round while existing investors Matrix Partners and CEAS Investments also participated in the round. Following the round, Martin Casado – general partner at Andreessen Horowitz – will join the company’s board of directors team.
“Fivetran technology solves the last remaining hurdle to widespread adoption of data analytics programs — data centralization,” said Martin Casado. “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.”
Over the past year, the Fivetran team has doubled its customer base of traditional enterprises and modern organizations. It now serves more than 750 companies, including DocuSign, Lime, Optimizely and Urban Outfitters, Inc.
“The number of notable organizations working with Fivetran is a testament to the vision of its founders, the quality of its technology, and the value it provides customers,” Martin Casado further added.
Fivetran also has a office in India. The company opened its India branch in Bengaluru in January 2017. The current headcount in the Bengaluru office is 40 while the global headcount stands at nearly 175. The company claims that it considers Bangalore development center as the most strategic, outside of it’s head office in Oakland.
About Fivetran:
Fivetran claims to be the smartest, fastest and most reliable way to continuously load data into your cloud warehouse. Prebuilt, zero-maintenance Fivetran connectors deploy in minutes and completely replicate your applications, databases, events and files — powering comprehensive business insights. Fivetran builds the best schemas and ERDs around, and protects the continuity of your data projects with automatic schema migrations and micro-batch updates.
