{"id":19498,"date":"2020-07-01T07:31:24","date_gmt":"2020-07-01T07:31:24","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/fivetran-snares-100m-series-c-on-1-2b-valuation-for-data-connectivity-solution.html"},"modified":"2020-07-01T07:31:24","modified_gmt":"2020-07-01T07:31:24","slug":"fivetran-snares-100m-series-c-on-1-2b-valuation-for-data-connectivity-solution","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/fivetran-snares-100m-series-c-on-1-2b-valuation-for-data-connectivity-solution.html","title":{"rendered":"Fivetran snares $100M Series C on $1.2B valuation for data connectivity solution"},"content":{"rendered":"

A big problem for companies these days is finding ways to connect various data sources to their data repositories, and Fivetran<\/a> is a startup with a solution to solve that very problem. No surprise then that even during a pandemic, the company announced today that it has raised a $100 million Series C on a $1.2 billion valuation.<\/p>\n

The company didn\u2019t mess around, with top flight firms Andreessen Horowitz <\/a> and General Catalyst leading the investment, with participation from existing investors CEAS Investments and Matrix Partners. Today\u2019s money brings the total raised so far to $163 million, according to the company.<\/p>\n

Martin Casado <\/a> from a16z described the company succinctly in a blog post<\/a> he wrote after its $44 million Series B<\/a> in September 2019, in which his firm also participated. \u201cFivetran is a SaaS service that connects to the critical data sources in an organization, pulls and processes all the data, and then dumps it into a warehouse (e.g., Snowflake, BigQuery or RedShift) for SQL access and further transformations, if needed. If data is the new oil, then Fivetran <\/a> is the pipes that get it from the source to the refinery,\u201d he wrote.<\/p>\n

Writing in a blog post today<\/a> announcing the new funding, CEO George Fraser added that in spite of current conditions, the company has continued to add customers. \u201cDespite recent economic uncertainty, Fivetran has continued to grow rapidly as customers see the opportunity to reduce their total cost of ownership by adopting our product in place of highly customized, in-house ETL pipelines that require constant maintenance,\u201d he wrote.<\/p>\n

In fact, the company reports 75% customer growth over the prior 12 months. It now has more than 1,100 customers, which is a pretty good benchmark for a Series C company. Customers include Databricks, DocuSign, Forever 21, Square, Udacity and Urban Outfitters, crossing a variety of verticals.<\/p>\n

Fivetran hopes to continue to build new data connectors as it expands the reach of its product and to push into new markets, even in the midst of today\u2019s economic climate. With $100 million in the bank, it should have enough runway to ride this out, while expanding where it makes sense.<\/p>\n

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Fivetran hauls in $44M Series B as data pipeline business booms<\/a><\/p>\n<\/blockquote>\n

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Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/EY0JL6s7QAY\/<\/p>","protected":false},"excerpt":{"rendered":"

A big problem for companies these days is finding ways to connect various data sources to their data repositories, and Fivetran is a startup with a solution to solve that <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-19498","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t