Fivetran has raised $100 million in Series C Funding according to a blog post by the company’s CEO George Fraser. The round brings Fivetran’s total funding earned to more than $163 million since its founding in 2012, and includes both new and existing investors. Fivetran will use the capital to hasten adoption in the enterprise and around the globe.
Fivetran offers a data replication platform with standardized schemas. The product requires no coding or maintenance, and pre-made connectors adjust to schema changes automatically. Pipelines can be set up in as little as five minutes by authenticating your sources and data warehouse. Users can trigger to ha automated transformations via a modern and scalable computing infrastructure without configuration as well.
The news represents Fivetran’s second funding round in the last calendar year after it secured $44 million in Series B last September. That round was designed to help the Oakland-based vendor advance automated services to more sources and destinations and scale operations. The Series C funding also comes on the heels of the release of Fivetran Transformations with in-Warehouse Data Change and the launch of Powered by Fivetran. As part of the Powered by Fivetran release, Fivetran enhanced the functionality of its APIs so customers can embed every connector in the Fivetran connector portfolio.
Fraser said: “Despite 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.” He concluded: “Our mission is to make access to data as simple and reliable as electricity.”
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