Data Integration Tech Developer Fivetran Raises $100M In Financing

Company will use funding to fuel its geographic expansion and continue building up its portfolio of data connectors.

Data integration software developer Fivetran has raised an impressive $100 million in Series C financing. The round brings the Oakland-based company’s total financing to $163 million and boosts its market value to $1.2 billion.

Fivetran, named to this year’s CRN Big Data 100 list, will use the additional funds to accelerate its global expansion, drive adoption of the company’s software among enterprise businesses, and continue building out the depth and breadth of Fivetran’s data connectors that provide the company’s flagship software with its integration capabilities.

The round of funding was led by Andreessen Horowitz and General Catalyst, with participation from existing investors CEAS Investments and matrix partners.

Moving data from operational applications and database systems to on-premises and cloud data warehouse systems for analytical tasks can be a complicated, time-consuming challenge for businesses and organizations.

Data ETL (extract, transform and load) and data integration tools from established players such as Informatica and Talend and more recent entrants into the market such as Matillion and Fivetran are designed to make those tasks easier by eliminating the need to build and maintain data pipelines and connections between IT systems.

Fivetran’s automated data integration system includes ready-to-use connectors that automatically adapt as data schemas and APIs change.

“From the start, our vision has been to make access to data as simple and reliable as electricity,” said George Fraser, Fivetran CEO, in a statement.

Fivetran said it is growing rapidly through adding new customers and by the expanded use of its software within existing customers. Over the last 12 months revenue grew 129 percent, according to the company, and customer growth was 75 percent with the total customer base now standing at more than 1,100 companies including Conagra Brands, DocuSign and Urban Outfitters.

Fivetran also has a strategic alliance with Google Cloud, which uses Fivetran as part of the Google Data Transfer Service to move data from operational systems such as Salesforce and Marketo applications into Google’s BigQuery cloud data warehouse system.