Data integration software provider Fivetran is raising $44 million in a Series B funding round, with inclusion from new and existing investors. The capital brings Fivetran’s total earned to $59 million since its founding in 2012. The company will use the funding for advancing its automated services to more sources and destinations, scaling operations, and increasing demand for its product. Fivetran also plans to hire new talent across its four locations.
Fivetran’s automated connectors sync data from cloud applications, databases, event logs and more into users’ data warehouse. Integrations are built for analysts who need data centralized but don’t want to spend time maintaining their own pipelines or ETL systems. Fivetran services are delivered via a spreadsheet function and works seamlessly with data infrastructure platforms and managed services like Snowflake, Google Cloud, Looker, Tableau and Microsoft Azure.
The announcement tops a banner year for the Oakland-based solution provider. Fivetran doubled its customer base of enterprise and small-to-medium organizations over the last twelve months. The company also expanded its operations into the EMEA and hired new personnel across all its major departments.
In a Fivetran blog post, the company’s co-founder and CEO George Fraser spoke to the Series B announcement, saying: “We have the opportunity to build a market-defining independent company, and we’re working hard every day to execute on that opportunity. We’re in it for the long haul.”
Solutions Review recently featured an editorial by Fivetran’s Product Evangelist Charles Wang entitled A Two-Part Solution to the Data Integration Challenge of ETL. We highly encourage you to read it.
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