Headquartered in Oakland, California, Fivetran, a startup that maintains satellite offices around the world to provide continuous service and support, has raised $44 Mn in a fresh round led by Andreessen Horowitz. Existing investors Matrix Partners and CEAS Investments also participated in the funding round.
The startup stresses on working with data pipe-lining architecture and they’re still hiring and growing to new heights. This firm also enables analysts to extract data from several repositories and replicate it into data warehouses.
According to their official website : “Fivetran redefined the data pipeline. Shaped by the needs of analysts, our fully managed pipelines enable data-backed decisions company-wide by delivering ready-to-query data into your cloud warehouse. We’re focused, transparent and trusted by businesses that embrace agile analytics.”
This Fivetran venture started in 2012 and has doubled its customer base of traditional enterprises and modern organizations over the past year to more than 750 companies including DocuSign, Lime, Optimizely and Urban Outfitters, Inc. It has also expanded operations into Europe, the Middle East, and Africa (EMEA) region.
With the new influx of cash from “a16z” venture capital, the 7-years young startup plans to use it to expand its customer base, enhance its automated services to more sources and destinations and scale up its operations across Bengaluru, Oakland, Denver, and Dublin. Quite fortunately, this investment comes nearly nine months after the company had secured $15 million in Series A funding in December 2018.
“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.”
Martin Casado, general partner at Andreessen Horowitz, who will be joining the company’s board of directors said in a statement, “Fivetran technology solves the last remaining hurdle to widespread adoption of data analytics programs — data centralization. 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 serves more than 750 companies globally, including DocuSign, Lime, Optimizely and Urban Outfitters, Inc.
The company has its own footprint in India’s Silicon Valley as well. It had started a development hub in Bengaluru in January 2017, and “more than 50% of its worldwide engineering talent is currently based out of this centre” , Fivetran said in a statement. Fivetran has about 175 employees globally, of which 40 employees are in the Bengaluru centre.
“India is an important market. We have a few customers here and are looking whether we should set up a sales office here. Over the next 12 months, we expect the headcount at the Bengaluru development centre to more than double,” Fivetran co-founder and CEO George Fraser told.