From left: Fivetran's co-founders George Fraser and Taylor Brown. Image: Fivetran
After raising $44m in a Series B round, Fivetran has plans to double its Dublin workforce.
On Tuesday (24 September), Fivetran announced that Andreessen Horowitz led its Series B round, which raised a total of $44m.
There was additional participation from existing investors Matrix Partners and CEAS Investments. Andreessen Horowitz general partner, Martin Casado, will join Fivetran’s board of directors following the funding round.
To date, the company has raised at least $59m, having raised $15m in its December 2018 Series A.
Dublin office
While founded and headquartered in California, Fivetran also has offices in Denver, Bangalore and Dublin.
Following the funding round, Fivetran says it will use the investment to build on the demand for its technology, advance its automated services to more sources and destinations and scale operations, hiring across each of its locations.
Speaking to Fora, Fivetran’s director for EMEA, Nate Spohn, said: “In the last year and a half, the Fivetran footprint in EMEA has grown from 30 to 130 customers and two to 22 employees out of our Dublin office. We expect to double again in the next six months.”
While the company hasn’t announced what areas these new roles in Dublin will cover, it is currently hiring customer success engineers.
Data centralisation
The Oakland-based start-up was founded in 2013 by George Fraser and Taylor Brown, who participated in Y Combinator. They realised that modern companies using cloud-based software, storage and traditional ETL tools were underperforming.
To streamline and accelerate analytics projects for these companies, Fivetran developed zero-configuration, zero-maintenance pipelines to deliver data into modern cloud warehouses. Fraser and Brown say that their product has been shaped by the “real-world needs of data analysts”.
The company has doubled its customer base over the last year alone, adding Urban Outfitters, Lime and DocuSign to its list of more than 750 company clients.
Casado of Andreessen Horowitz said: “Fivetran technology solves the last remaining hurdle to widespread adoption of data analytics programs – data centralisation.
“Instead of struggling to build and maintain a data connector for each individual data source, which is a resource-intensive engineering task, organisations can process in minutes – a feat many thought was impossible.”
Fraser, who is CEO of Fivetran, added: “Data-driven insights are essential for building successful organisations, but the rapid growth of cloud-derived data makes it hard to provide a centralised view of marketing, sales, finance or HR. We automate the data integration required to centralise data in cloud warehouses, eliminating the need to build complex data pipelines.”
