UPDATED 09:00 EST / SEPTEMBER 24 2019

BIG DATA

Data integration company Fivetran raises $44M in Series B round

Fivetran Inc. today said it has raised a hefty $44 million in a financing round that suggests its revolutionary data integration technology is on the verge of hitting the big time.

Andreessen Horowitz led the Series B round, which saw participation from existing investors Matrix Partners and CEAS Investments and brings its total funding to date to $59.1 million.

Fivetran has hit the jackpot thanks to its unique data integration technology. It supplies “data connectors” that enable the smooth transfer of information from almost any source to a cloud data warehouse, from where it can be analyzed for business insights more easily.

Fivetran does away with the need to build a data connector for each individual data source by automating the entire process. It offers prebuilt data connectors that can automatically adjust to schema and application programming interface changes, helping to ensure the continuity of data projects. Previously, companies would need to build complicated “extract, transform and load” or ETL pipelines for each data source, which is a difficult and resource-intensive task.

The main benefit of Fivetran’s data connectors is it means companies can easily combine data from multiple sources to get a more centralized view of their finances, marketing, sales and other business operations, the company said.

“Fivetran technology solves the last remaining hurdle to widespread adoption of data analytics programs — data centralization,” Martin Casado, a general partner at Andreessen Horowitz, said in a statement. “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.”

Fivetrans’ technology has already been validated by prestigious tech firms such as Google LLC, which in April said it was using the firm’s data connectors to create a new Data Transfer Service for its BigQuery platform. BigQuery is a popular data warehouse service that’s used to store and analyze extremely large, read-only datasets. But Google said that its customers had complained that it was often too difficult for them to funnel data to it from third-party sources, hence the need for its data transfer service.

Fivetran said it’s planning to use its new funds to advance its automated data transfer services to more sources and destinations. It also plans to hire more staff at its four locations in Oakland, Denver, Dublin and Bangalore.

Image: Xresch/Pixabay

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