Data analytics software developer Fivetran has announced plans to expand its Dublin-based team after raising $100m in a new funding round.
Fivetran has announced plans to accelerate its global expansion after raising $100m in Series C funding led by Andreessen Horowitz and General Catalyst, with participation from existing investors CEAS Investments and Matrix Partners.
Total fundraising for the Silicon Valley-headquartered start-up now stands at $163m. It has now also achieved unicorn status, reaching a valuation of $1.2bn.
The company’s EMEA operation is based out of Dublin and, following this news, it confirmed plans for a new recruitment drive.
A spokesperson for Fivetran said that it currently employs 50 people across the EMEA region, of which 42 are based in Dublin. The company plans to increase its EMEA headcount to 75 by the end of the year, with the majority of new hires at its Dublin base. They added that there will be a particular focus on hiring for sales roles.
The company, which provides automated data integration, said it is undergoing significant growth with customer usage growing by 150pc between February 2019 and February 2020. During this period, the number of rows of data managed by the company went from 500bn to nearly 1.3trn.
‘Data as simple and reliable as electricity’
Fivetran’s total customer base now stands at more than 1,100 companies, including brands such as ClassPass, Conagra Brands, Databricks, DocuSign, Forever 21, Lime, Square, Udacity and Urban Outfitters. It recently opened offices in Sydney, Munich and London and expanded its India operations with a new base in Bengaluru.
“From the start, our vision has been to make access to data as simple and reliable as electricity,” said George Fraser, CEO of Fivetran.
Andreessen Horowitz general partner David George, who leads the firm’s growth fund, added: “Fivetran quickly established itself as the clear leader in this incredibly important space and has become the de facto standard for data integration in the modern data stack.
“They’ve also continued to perfect their automation process, providing customers with reliable, real-time data. All this, during a period of uncertainty, speaks volumes about just how tremendous this company is and how well the product works.”
In September last year, the company announced that it had raised $44m in Series B funding and Andreessen Horowitz general partner Martin Casado joined Fivetran’s board of directors.