Asian Spectator

World

Fivetran Raises $100 Million to Accelerate Growth as Automated Data Integration Leader

  • Written by Asian Spectator


OAKLAND, CA — June 30, 2020 — Fivetran, the leading provider of automated data integration, today announced it has raised $100 million in Series C financing, led by Andreessen Horowitz (a16z) and General Catalyst, with participation from existing investors CEAS Investments and Matrix Partners. Fivetran will use the funding to accelerate global expansion, drive adoption in the enterprise market, and continue building out the depth and breadth of its data connectors. 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. In a recent survey by Dimensional Research, data analysts reported spending only half their time actually analyzing data, and 68 percent have profit-driving ideas but little time to implement them. More than 60 percent of respondents reported wasting time waiting for engineering resources several times each month and often spending one-third of every workday just trying to access data. 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 completely changed our data extraction workflow. We save a tremendous amount of time by eliminating the need to build and maintain data pipelines internally,” said Evin Anderson, data engineering manager for Autodesk. “Fivetran is helping us scale as we acquire new businesses and grow rapidly. We can now focus on data analysis and science by building out dashboards and a machine-learning infrastructure."


Fivetran is growing rapidly, landing new customers quarter over quarter, as well as expanding the use of Fivetran across current customers. From February 2019 - February 2020, customers expanded their usage of Fivetran by 150 percent, with rows of data managed growing from 500 billion to nearly 1.3 trillion during the time period. Within the past 12 months, new customer growth has increased by more than 75 percent. 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. During the same period, revenue has grown by 129 percent. Based on strong customer reviews, Fivetran earned the 2019 Gartner Peer Insights Customers' Choice distinction in the Data Integration Tool category.


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.”


"Fivetran quickly established itself as the clear leader in this incredibly important space and has become the de facto standard for data integration in the modern data stack," said Andreessen Horowitz general partner David George, who leads the firm's growth fund. "They've also continued to perfect their automation process, providing customers with reliable, real-time data. All this, during a period of uncertainty, speaks volumes about just how tremendous this company is and how well the product works."


Trevor Oelschig, managing director at General Catalyst Growth, will join the Fivetran board. “When you find a company abstracting away complexity to create a service that’s approachable with a fast time-to-value, you know they’re on to something. That’s exactly what we see with Fivetran,” said Oelschig. “Every company needs to be data-informed to compete. Fivetran keeps that data flowing in a transparent, self-serve, and cloud-native way. What we heard over and over again from their customers: Fivetran just works.”


Visit the Fivetran blog to learn more.


About Fivetran

Fivetran, the leader in automated data integration, delivers ready-to-use connectors that automatically adapt as schemas and APIs change, ensuring consistent, reliable access to data. Fivetran improves the accuracy of data-driven decisions by continuously synchronizing data from source applications to any destination, allowing analysts to work with the freshest possible data. To accelerate analytics, Fivetran enables in-warehouse transformations and delivers source-specific analytics templates. With more than 1,000 customers, Fivetran is headquartered in Oakland, California, with offices around the globe. For more information, visit www.fivetran.com.

Prince Albert of Monaco to deliver keynote address at Abu Dhab...

ABU DHABI, United Arab Emirates, Jan. 16, 2021 /PRNewswire-AsiaNet/-- - Reimagined ADSW 2021 comprises high-level virtual events including ADSW Summit, IRENA Assembly, Abu Dhabi Sustainable ...

The China International Import Expo, a boost to global service...

SHANGHAI, Jan. 16, 2021 /PRNewswire-AsiaNet/ -- China was in 2019 ranked third in the world, behind the United States and Singapore, in terms of digital economy competitiveness, according to...

Jacobson Pharma's Proposed Spin-off and Separate Listing of JBM (Healthcare) Limited on The Main Board of The Stock Exchange of Hong Kong Limited

HONG KONG, Jan 15, 2021 - (ACN Newswire) - Jacobson Pharma Corporation Limited ("Jacobson Pharma" or the "Company"; Stock Code: 2633), a leading company engaged in the research, development...

Harbin Harnesses Ice, Snow for Tourism Growth

HARBIN, China, Jan. 15, 2021 /PRNewswire-AsiaNet/ -- The 33rd Harbin Sun Island International Snow Sculpture Art Exposition recently kicked off in Harbin, capital of northeast China's Heilon...

Huion KD200: The Innovative Combination of Keyboard and Pen Ta...

SHENZHEN, China, Jan. 15, 2021 /PRNewswire-AsiaNet/ -- Global digital painting device provider Huion launched its award-winning pen tablet KD200 recently. Equipped with a one-hand keyboard a...

Moonstake Wallet Officially Commences Staking Support for QURAS

SINGAPORE, Jan 15, 2021 - (ACN Newswire) - Today, Moonstake announced the support of staking Quras's cryptocurrency XQC in Moonstake's Web and Mobile Wallets. In April of last year, Moonsta...

Magazine

Australian startup CareApp receives funding injection to expand app

Australian based startup CareApp has recently raised over $500,000 in funding including $250,000 provided by the South Australian State Government to rapidly expand and scale up their smartphone...

Shaparency launches to enable businesses to go fully digital

New venture developed for post-Covid-19 corporate landscape London-based start-up Shaparency, which has been established in response to the business conditions resulting from Covid-19, announces ...

Specops Significant Cyber Attacks

The prevalence and severity of cyber attacks are increasing at an alarming rate every year. So much so, that statistics from Cybersecurity Ventures estimate that cybercrime will cost the global ...

Writers Wanted



News Co Media Group

Content & Technology Connecting Global Audiences

More Information - Less Opinion