Fivetran hauls in $44M Series B as data pipeline business booms
Fivetran, a startup that helps companies move data from disparate repositories to data warehouses, announced $44 million Series B financing today, less than a year after collecting a $15 million Series A round.
Andreessen Horowitz (A16Z) led the round with participation from existing investors Matrix Partners and CEAS Investments. As part of the deal, Martin Casado from A16Z will join the Fivetran board. Today’s investment brings the total raised to over $59 million, according to Crunchbase.
Company co-founder and CEO George Fraser said they raised a little sooner than expected, but they needed a cash infusion to keep up with the steady growth they have been seeing. He said the company also wanted to get the funding done while the capital markets were still strong. “If we wait four months or six months, the terms are not going to be that much better — and, who knows, there could be a recession. You never know how long the sun shines, and we had interest from some really good firms that we liked, and that’s a big factor too obviously.” he said.
He added that it’s not purely an economic decision. “We’re really happy with where we landed with
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