Unicorn Fivetran Raises $565M Series D, Plans to Acquire HVR for $700M

Fivetran was valued at $1.2 billion when it last raised funds in June of 2020. Following the Series D round, the company’s valuation has more than quadrupled to $5.6 billion.
Written by Cassidy Ritter
September 21, 2021Updated: September 21, 2021
Fivetran cofounders
Fivetran Co-founders George Fraser (left) and Taylor Brown (right). | Photo: Fivetran / Facebook

Tech unicorn Fivetran announced on Monday it raised a hefty $565 million Series D round led by Andreessen Horowitz. This latest funding values Fivetran at $5.6 billion — more than quadruple the company’s valuation in June of 2020 when it raised a $100 million Series C.

As more companies look to make data-driven decisions, organizations often struggle to extract and centralize their data. And, according to Gartner, 97 percent of data is unused by organizations. Fivetran aims to help. The Oakland-based company helps organizations funnel data from several sources into a single cloud information warehouse. Since launching in 2012, Fivetran has raised a total of $730 million.

Fivetran CEO George Fraser said in a statement the recent funding will allow the company to expand its capabilities and accelerate growth globally. General Catalyst, CEAS Investments, Matrix Partners, D1 Capital Partners and others participated in the Series D round.

In addition to the funding, Fivetran announced its plans to acquire San Francisco-based HVR for $700 million in stocks and cash.

HVR is a leader in enterprise database replication and offers a real-time data replication software for businesses. Similar to Fivetran, HVR helps companies harness data and realize the potential of it, according to HVR CEO Anthony Brooks-Williams.

“HVR is a recognized leader for enterprise database replication and shares our same vision — to make access to data as simple and reliable as electricity,” Fraser said in a statement. “Their product is the perfect complement to our automated data integration technology and will be instrumental for us to help enterprise organizations that want to improve their analytics with a modern data stack.”

Combining Fivetran and HVR’s technology will allow for modern analytics for business-critical data without compromising performance, ease of use or security, according to the statement. It will also make access to data easy for every size company and type of data source, Fraser wrote in a blog post. The acquisition is expected to close early next month.

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