Fivetran has raised has raised US$565 million in Series D funding, bringing total raised to US$730 million for a valuation of US$5.6 billion.
The new round of funding was led by Andreessen Horowitz and comprised existing investors such as General Catalyst, CEAS Investments and Matrix Partners, and new investors ICONIQ Capital, D1 Capital Partners, and YC Continuity.
Along with the cash injection, the automated data integrator has agreed to acquire enterprise data replication technology provider HVR in a US$700 million cash and stock deal.
Expected to be completed in October, the move will allow Fivetran to provide breakthrough database replication performance along with enterprise-grade security to address the massive market for modernising analytics for operational data associated with ERP systems and Oracle databases and others.
“HVR is a recognised leader for enterprise database replication and shares our same vision – to make access to data as simple and reliable as electricity. Their product is the perfect complement to our automated data integration technology and will be instrumental for us to help enterprise organisations that want to improve their analytics with a modern data stack,” said George Fraser (top), CEO of Fivetran..
“Combining HVR and Fivetran will enable a next-generation solution that will better inform business decisions by providing the freshest data available. We’re thrilled to be joining forces with Fivetran and look forward to what this incredible opportunity will provide for our growing team, partners and customers,” said Anthony Brooks-Williams, CEO of HVR.