Fivetran Revenue, Valuation, Funding & Investors
Fivetran is valued at $5.6B as of September 2021, a 44.8x multiple on its last reported $125M revenue.
Last Fivetran valuation
$5.6B
Series D · Sep 2021
Last Fivetran funding round
$565M
Series D · Sep 2021
Fivetran revenue
$125M
Series D · Sep 2021
Key investors in Fivetran
CEAS Investments
Matrix Partners
Andreessen Horowitz
General Catalyst
Y Combinator
ICONIQ Capital
About Fivetran
Fivetran is a San Francisco-headquartered data integration platform automating pipelines from over 300 sources to data warehouses like Snowflake and BigQuery. Launched in 2012, it handles schema drifts and API updates through automated connectors for SaaS applications including Salesforce, NetSuite, and Marketo. The service supports ELT workflows with dbt integration for transformations directly in warehouses. Fivetran serves enterprises by ensuring real-time data synchronization for analytics teams worldwide.
Founded
2012
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$125M (Sep 2021)
Valuation
$5.6B (Sep 2021)
Fivetran Valuation
Fivetran is currently valued at $5.6B, based on its Series D in September 2021.
The $565M round was led by Andreessen Horowitz, with participation from General Catalyst, ICONIQ Capital, Matrix Partners, D1 Capital Partners, Y Combinator Continuity Fund and 1 other investor.
Fivetran's valuation has grown 4.7x from $1.2B at its Series C in June 2020 to $5.6B in September 2021, across 2 priced rounds.
Fivetran valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2021 | Series D | $5.6B | 44.8x |
| Jun 2020 | Series C | $1.2B | 3.7x |
Fivetran Revenue
Fivetran's latest recorded revenue is $125M, as of its Series D in September 2021. At a $5.6B valuation, that implies a 44.8x revenue multiple.
Revenue moved from $325M in June 2020 to $125M in September 2021, while the revenue multiple moved from 3.7x to 44.8x.
Fivetran revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2021 | $125M | $5.6B | 44.8x | Series D |
| Jun 2020 | $325M | $1.2B | 3.7x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Fivetran Funding History
Fivetran has raised a total of $728M across 6 funding rounds.
Fivetran's first fundraising round was a $700K seed round in April 2013. The most recent completed round was a $565M Series D in September 2021.
Fivetran funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Series D | Andreessen Horowitz (lead); General Catalyst; ICONIQ Capital; Matrix Partners; D1 Capital Partners; Y Combinator Continuity Fund; CEAS Investments | $565M | $5.6B | Fivetran is a data movement platform that automates the extraction, loading, and transformation of data from various sources into cloud data warehouses, serving enterprises with usage-based pricing tied to monthly active rows and enterprise features for security and governance. In September 2021, Fivetran raised $565 million in its Series D round led by Andreessen Horowitz, with participation from CEAS Investments, D1 Capital Partners, General Catalyst, ICONIQ Growth, Matrix Partners, and Y Combinator Continuity Fund, achieving a post-money valuation of $5.6 billion. The funding supported expansion following the $700 million acquisition of HVR for real-time database replication and enhancements like Fivetran Business Critical for enterprise security. At the time of the round, Fivetran demonstrated strong traction with estimated annual recurring revenue (ARR) of approximately $125 million in 2021, reflecting a compound growth from $60 million in 2020 amid rising demand for ELT solutions, cloud data warehouse adoption (Snowflake, BigQuery, Databricks), and consolidation of ETL pipelines. Gartner reported Fivetran's data integration revenue grew 141.2% to $83 million in 2021, marking the highest growth in the sector, with a 75% increase in customer base. The round brought Fivetran's total funding to around $730 million by late 2021. Subsequent growth saw ARR reach $190 million in 2022, $245 million in 2023, $325 million in 2024, and surpassing $300 million as announced in September 2024, driven by AI data demands and partnerships like OpenAI. In October 2025, Fivetran announced an all-stock merger with dbt Labs to form a combined entity with nearly $600 million in annual revenue. |
| Jun 2020 | Series C | Andreessen Horowitz (lead); General Catalyst (lead); Matrix Partners; CEAS Investments | $100M | $1.2B | Fivetran is a provider of automated data integration platforms that connect data sources to cloud data warehouses like Snowflake, BigQuery, or Redshift, automating ETL pipelines to deliver reliable, real-time data for analytics. The company raised $100 million in a Series C funding round on June 30, 2020, led by Andreessen Horowitz and General Catalyst, with participation from existing investors CEAS Investments and Matrix Partners, bringing total funding to $163 million at a post-money valuation of $1.2 billion. Funds were allocated to accelerate global expansion, including new offices in Sydney, Munich, London, and Bengaluru, drive enterprise adoption, and expand its library of data connectors. The round marked Fivetran achieving unicorn status, with rapid growth including over 75% increase in new customers in the prior 12 months to more than 1,300 total customers such as Databricks, DocuSign, Square, Autodesk, and Conagra Brands. Customer usage expanded significantly, with data rows managed growing 150% from 500 billion to 1.3 trillion between February 2019 and February 2020. Revenue grew 129% over the last 12 months, though absolute figures were not disclosed. Fivetran positions itself as a scalable alternative to custom in-house ETL solutions, reducing maintenance costs amid rising data demands. Investors highlighted its efficiency and status as a de facto standard for modern data stacks. This Series C followed a $44 million Series B in 2019 also led by Andreessen Horowitz. |
| Sep 2019 | Series B | Andreessen Horowitz (lead); Matrix Partners; CEAS Investments | $44M | - | - |
| Dec 2018 | Series A | Matrix Partners (lead); CEAS Investments | $15M | - | - |
| Nov 2017 | Seed | CEAS Investments (lead) | $3M | - | Fivetran raised $3.4 million in a seed round in November 2017 led by CEAS Investments to expand the team and accelerate core-platform development. This followed an earlier seed round of $743K in April 2013 to initiate operations and build the company’s first data-integration product. |
| Apr 2013 | Seed | Y Combinator | $700K | - | - |
Who has invested in Fivetran?
8 investors have backed Fivetran across its funding rounds, including CEAS Investments, Matrix Partners, Andreessen Horowitz, General Catalyst, Y Combinator and ICONIQ Capital.
Lead investors include Andreessen Horowitz, General Catalyst, Matrix Partners and CEAS Investments.
Fivetran Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Boca Raton, FL | 5 | Lead | Nov 2017 | |
| Boston, MA | 4 | Lead | Dec 2018 | |
| San Francisco, CA | 3 | Lead | Sep 2019 | |
| San Francisco, CA | 2 | Lead | Jun 2020 | |
| San Francisco, CA | 1 | Participant | Sep 2021 | |
| San Francisco, CA | 1 | Participant | Apr 2013 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Fivetran
Fivetran has acquired 5 companies to date.
Last acquisition by Fivetran was on October 13th 2025. Fivetran acquired dbt Labs for undisclosed valuation.
Latest Acquisitions by Fivetran
| Description | dbt Labs is the company behind dbt, an open-source data transformation tool that lets data teams transform, manage, and document data inside cloud warehouses such as Snowflake, Google BigQuery, Databricks, and Amazon Redshift. Formerly known as Fishtown Analytics and based in Philadelphia, the company helped popularize the shift from traditional ETL to ELT workflows, giving data analysts a standard way to build and share organizational data models. dbt has become foundational to analytics workflows industry-wide, with dbt Cloud APIs powering business intelligence, operational analytics, data discovery, and data governance applications. | Tobiko Data is a data infrastructure provider focused on streamlining data development processes through scalable platforms and tools. Based in San Francisco, California, the company offers services for data pipeline management, integration, and analytics workflows tailored to engineering teams building modern data applications. | Census is a San Francisco-headquartered data activation platform powered by Reverse ETL technology. It syncs customer data from warehouses like Snowflake and BigQuery directly to CRM, marketing, and support tools such as Salesforce, HubSpot, and Intercom. Used by companies including Fivetran, Canva, and Figma, the platform operationalizes metrics for personalized campaigns and sales workflows without engineering resources. Founded in 2018, Census processes billions of syncs monthly across 200-plus destinations. | HVR is a developer of real-time data replication and integration software for enterprise environments. The platform connects sources like Oracle, SAP, SQL Server to targets including AWS, Snowflake, and Azure Synapse, enabling continuous data pipelines for analytics and cloud migration. Acquired by Fivetran in 2023, it serves global clients from its Alpharetta, Georgia headquarters. | |
| HQ Country | | | | | |
| HQ City | - | San Francisco, CA | San Francisco, CA | San Francisco, CA | |
| Deal Date | 13 Oct 2025 | 3 Sep 2025 | 1 May 2025 | 20 Sep 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | $700M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Fivetran Competitors
Fivetran competitors include listed companies like CommVault Systems and Oracle Corp Japan, and private ones like Collibra, Cockroach Labs, DataDirect Networks and Cohesity.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Brussels | Private | $150M | - | $5.3B | 35.0x | |
| United States | Publicly listed | $1.2B | $84M | $6.2B | 5.0x | |
| New York City, NY | Private | $550M | - | $5B | 9.1x | |
| Los Angeles, CA | Private | $750M | - | $5B | 6.7x | |
| San Jose, CA | Private | $1.7B | $28M | $7B | 4.1x | |
 Japan | Publicly listed | $1.8B | $589M | $7.7B | 3.9x |
Fivetran Public Comps
Fivetran is still privately-owned, but its public comps include CommVault Systems, Xunce Technology, Oracle Corp Japan, Dameng Database, Teradata, Business-intelligence, Transwarp, TRS Information Technology, e-Hualu and BTQ Technologies.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.2B | $84M | 5.2x | 5.0x | 72.9x | 23.2x | |||
| $192M | ($15M) | 21.3x | 13.4x | (264.0x) | 415.8x | |||
| $1.8B | $589M | 3.9x | 3.9x | 12.1x | 12.2x | |||
| $195M | $84M | 15.3x | 12.5x | 35.5x | 27.6x | |||
| $1.7B | $285M | 1.4x | 1.5x | 8.4x | 5.3x | |||
| $389M | $54M | 6.6x | 5.9x | 47.7x | - | |||
| $67M | ($31M) | 27.5x | 28.0x | (59.8x) | - | |||
| $76M | ($20M) | 19.3x | 19.7x | (73.5x) | 478.8x | |||
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Common questions about Fivetran
| When was Fivetran founded? | Fivetran was founded in 2012. |
| Where is Fivetran headquartered? | Fivetran is headquartered in San Francisco, CA, United States. |
| Is Fivetran publicly listed? | No, Fivetran is a private, VC-backed company. |
| What is Fivetran's valuation? | Fivetran was last valued at $5.6B in its Series D in September 2021. |
| How much funding has Fivetran raised? | Fivetran has raised $728M across 6 funding rounds. |
| What was Fivetran's last funding round? | Fivetran's last funding round was a $565M Series D in September 2021, led by Andreessen Horowitz. |
| Who are Fivetran's investors? | Fivetran's investors include CEAS Investments, Matrix Partners, Andreessen Horowitz, General Catalyst, ICONIQ Capital, Y Combinator, D1 Capital Partners and Y Combinator Continuity Fund. |
| What is Fivetran's revenue? | Fivetran's latest recorded revenue is $125M (September 2021). |
| What is Fivetran's revenue multiple? | Fivetran's latest valuation implies a 44.8x revenue multiple ($5.6B valuation on $125M of revenue). |
| Which companies are comparable to Fivetran? | Companies comparable to Fivetran include Collibra, CommVault Systems, Cockroach Labs, DataDirect Networks, Cohesity and Oracle Corp Japan. |
| How many companies has Fivetran acquired? | Fivetran has acquired 5 companies, including dbt Labs, Tobiko Data, Census, HVR and Teleport Data. |
| What was the largest acquisition by Fivetran? | The $700M acquisition of HVR in September 2021 is the largest acquisition Fivetran has made to date. |
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