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- Hex Technologies
Hex Technologies Valuation, Funding & Investors
Hex Technologies is valued at $350M as of October 2021.
Last Hex Technologies valuation
$350M
Series A · Oct 2021
Last Hex Technologies funding round
$70M
Series C · May 2025
Cumulative funding Hex Technologies raised
$172M
across 5 funding rounds
Key investors in Hex Technologies
Amplify Partners
Andreessen Horowitz
Redpoint
Sequoia Capital
BoxGroup
XYZ Venture Capital
About Hex Technologies
Hex Technologies is a San Francisco-headquartered collaborative analytics platform combining SQL, Python, R notebooks with AI code assistance and dbt integrations. The tool connects to Snowflake, BigQuery, and Looker for real-time data apps and dashboards shared via public links. Hex supports teams at Ramp and Notion with version control and scheduled runs in VPC deployments.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$350M (Oct 2021)
Hex Technologies Valuation
Hex Technologies is currently valued at $350M, based on its Series A in October 2021.
The $16M round was led by Redpoint, with participation from XYZ Venture Capital, Vandelay Ventures, Justin Gage, Viviana Faga, Operator Collective and 6 other investors.
Hex Technologies valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2021 | Series A | $350M |
Hex Technologies Funding History
Hex Technologies has raised a total of $172M across 5 funding rounds.
Hex Technologies' first fundraising round was a $6M seed round in March 2021. The most recent completed round was a $70M Series C in May 2025.
Hex Technologies funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2025 | Series C | Avra (lead); Redpoint; BoxGroup; Snowflake Ventures; Andreessen Horowitz; Sequoia Capital; Amplify Partners; Next Legacy Partners | $70M | - | Hex Technologies is a San Francisco-based company founded in 2020 by former Palantir employees Barry McCardel (CEO), Caitlin Colgrove (CTO), and Glen Takahashi (Chief Architect), offering a unified, AI-powered collaborative workspace for data science and analytics that combines notebooks and BI tools to serve data scientists and business users. The platform helps organizations analyze data, build models, and derive insights, trusted by thousands of teams including Reddit, StubHub, HubSpot, Cisco, Figma, Anthropic, Rivian, and the NBA. It positions itself as an AI-native solution amid consolidation in the data space, replacing outdated tools with unified workflows. On May 28, 2025, Hex announced a $70 million Series C funding round led by Avra, with participation from Andreessen Horowitz (a16z), Amplify Partners, BoxGroup, Redpoint, Sequoia Capital, Snowflake Ventures, and Next Legacy Partners. The funds will accelerate AI innovation, expand the team, scale operations, enhance the platform, and unify data workflows across organizations. This brings Hex's total funding to $172 million, following a $52 million Series B in March 2022. Hex has grown rapidly over the past two years into one of the fastest-growing tools in data analytics, capitalizing on AI-driven inflection points in the market. Avra's Anu Hariharan highlighted Hex's achievement in creating a single platform for advanced and accessible data analytics. |
| Mar 2023 | Undisclosed stage | Sequoia Capital (lead); Snowflake; Andreessen Horowitz; Amplify Partners | $28M | - | Hex Technologies is a San Francisco-based collaborative data workspace for analysts and data scientists, founded in 2020 by former Palantir colleagues Barry McCardel (CEO), Caitlin Colgrove (CTO), and Glen Takahashi (Chief Architect). The company provides an AI-powered unified platform that combines notebooks, dashboards, and apps to streamline data workflows, enhance collaboration, and enable insights for both technical and non-technical users. It serves thousands of organizations including Reddit, StubHub, HubSpot, Cisco, Figma, Anthropic, Rivian, and the NBA. On March 23, 2023, Hex raised $28 million in an extension round led by Sequoia Capital, with participation from existing investors Andreessen Horowitz, Amplify Partners, and Snowflake Ventures. CEO Barry McCardel noted the round was unsolicited, offering low dilution and extending runway to 5 years without touching previous funds. The capital supports investment in product, team, and AI opportunities amid economic uncertainty. Hex continued raising capital post-2023, including a $52M Series C at $420M valuation on October 10, 2025, led by Andreessen Horowitz and Sequoia, and a $70M Series C on May 28, 2025, led by Avra with participation from a16z, Amplify, Box Group, Redpoint, Sequoia, and Snowflake Ventures. These funds aim to advance the AI-native platform, expand the team (100+ employees), and scale data analytics impact. Positioned in the competitive data analytics sector, Hex differentiates by integrating AI across workflows to accelerate insights and reduce silos, attracting strong investor confidence from top VCs despite a tight funding environment. |
| Mar 2022 | Series B | Andreessen Horowitz (lead); Snowflake; Redpoint; Zero Prime Ventures; Databricks Ventures; Amplify Partners | $52M | - | Hex Technologies is a collaborative analytics and data science platform that combines code notebooks, BI tools, and spreadsheets into a single seamless canvas, integrating with modern data stacks like Snowflake, Databricks, and dbt to enable teams to analyze, share, and build interactive data apps. On March 22, 2022, Hex raised a $52 million Series B round led by Andreessen Horowitz, with participation from Snowflake, Databricks Ventures, Redpoint, and Amplify Partners. The funds were allocated to hire talent and expand the platform to broaden data accessibility across technical and non-technical users. a16z General Partner Sarah Wang joined the board. This round built on prior seed and Series A funding, positioning Hex to scale amid growing demand for collaborative data workflows akin to Figma and Slack in their domains. Subsequent rounds included Series B extensions in 2023 and a Series C in 2025 with investors like Sequoia, bringing total funding to around $172M, focused on AI enhancements and market expansion. |
| Oct 2021 | Series A | Redpoint (lead); XYZ Venture Capital; Vandelay Ventures; Justin Gage; Viviana Faga; Operator Collective; Amplify Partners; Lenny Rachitsky; Allison Pickens Ventures; Jeff Silverstein; Kevin Alvarez Fung; Tokyo Black | $16M | $350M | Hex Technologies is a San Francisco-based collaborative data workspace that enables data teams to work from idea to analysis to sharing using SQL and Python notebooks, live collaboration, and interactive data apps. The platform features real-time collaborative notebooks, first-class SQL support, and a reactive compute engine, serving customers like Workrise, Glossier, AngelList, Human Interest, Whatnot, dbt Labs, and Setel. Hex raised $16 million in its Series A funding round in October 2021, led by Redpoint Ventures, with participation from Amplify Partners, Data Community Fund, Geometry, Operator Collective, Tokyo Black, Vandelay Ventures, XYZ Venture Capital, and individual investors including Allison Pickens, Jeff Silverstein, Justin Gage, Kevin Alvarez Fung, Lenny Rachitsky, Viviana Faga. This brought total funding to $21.5 million following a prior $5.5 million seed round. The funds supported growth of product and go-to-market teams and platform development. Redpoint's Tomasz Tunguz joined the board. The round occurred at a post-money valuation of $350 million. Hex launched Hex 2.0 around the time, enhancing data science workflows with integrations like dbt for better data quality visibility. |
| Mar 2021 | Seed | Amplify Partners (lead); XYZ Venture Capital; BoxGroup; Operator Collective; The New Normal Fund; Zero Prime Ventures | $6M | - | The earliest documented round in reliable sources is the Series A on October 21, 2021, which raised $16 million and was led by Redpoint Ventures with participation from Amplify Partners, Data Community Fund, Geometry, Operator Collective, Tokyo Black, Vandelay Ventures, XYZ Venture Capital, and individual investors. The company was founded to build a collaborative data workspace enabling organizations to drive impact from data, and the Series A announcement noted strong user adoption among customers including Workrise, AngelList, Whatnot, and dbt Labs. |
Who has invested in Hex Technologies?
22 investors have backed Hex Technologies across its funding rounds, including Amplify Partners, Andreessen Horowitz, Redpoint, Sequoia Capital, BoxGroup and XYZ Venture Capital.
Lead investors include Avra, Sequoia Capital, Andreessen Horowitz, Redpoint and Amplify Partners.
Hex Technologies Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Mar 2021 | ||
| 3 | Lead | Oct 2021 | ||
| 3 | Lead | Mar 2022 | ||
| 2 | Participant | Mar 2022 | ||
| 2 | Participant | Mar 2021 | ||
| 2 | Participant | Mar 2021 | ||
| 2 | Participant | Mar 2021 | ||
| 2 | Participant | Mar 2021 | ||
| 2 | Lead | Mar 2023 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Mar 2021 | ||
This data is available for Pro users. Sign up to see all 22 Hex Technologies investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Hex Technologies
Hex Technologies has acquired 1 company to date.
Last acquisition by Hex Technologies was on April 30th 2025. Hex Technologies acquired Hashboard for undisclosed valuation.
Latest Acquisitions by Hex Technologies
| Description | Hashboard is a business intelligence platform designed for data engineers. Hosted on data warehouses, it enables metric definition, team-wide exploration, and insight generation for organizational decision-making. |
| HQ Country | |
| HQ City | New York City, NY |
| Deal Date | 30 Apr 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Hex Technologies acquisitions and their M&A valuation multiples. Start Free Trial | |
Hex Technologies Competitors
Hex Technologies competitors include listed companies like Business-intelligence and Exasol, and private ones like Acceldata, MotherDuck, StarTree and Chalk.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $360M | - | ||
| Private | - | - | $400M | - | ||
| Private | - | - | $426M | - | ||
| Private | - | - | $500M | - | ||
| Publicly listed | $389M | $54M | $2B | 5.9x | ||
| Publicly listed | $48M | $5M | $56M | 0.7x |
Hex Technologies Public Comps
Hex Technologies is still privately-owned, but its public comps include HCR Co, Nordtech Group, Shanghai Wondertek, Vista Group, Zhongfu Information, BTQ Technologies, AnyMind Group, Spire Global, Datawalk and Appen.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $75M | ($3M) | 3.3x | - | (84.3x) | - | |||
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $38M | $3M | 7.2x | - | 80.9x | - | |||
| $94M | $5M | 4.2x | 3.8x | 85.8x | 20.8x | |||
| $108M | $1M | 3.4x | 2.7x | 359.0x | - | |||
| $226K | ($18M) | 1720.6x | 266.9x | (21.8x) | - | |||
| $368M | $12M | 1.0x | 0.7x | 30.8x | 10.5x | |||
| $72M | ($40M) | 5.5x | 5.1x | (9.9x) | (13.6x) | |||
This data is available for Pro users. Sign up to see all Hex Technologies competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Hex Technologies
| When was Hex Technologies founded? | Hex Technologies was founded in 2019. |
| Where is Hex Technologies headquartered? | Hex Technologies is headquartered in San Francisco, CA, United States. |
| Is Hex Technologies publicly listed? | No, Hex Technologies is a private, VC-backed company. |
| What is Hex Technologies' valuation? | Hex Technologies was last valued at $350M in its Series A in October 2021. |
| How much funding has Hex Technologies raised? | Hex Technologies has raised $172M across 5 funding rounds. |
| What was Hex Technologies' last funding round? | Hex Technologies' last funding round was a $70M Series C in May 2025, led by Avra. |
| Who are Hex Technologies' investors? | Hex Technologies' investors include Amplify Partners, Redpoint, Andreessen Horowitz, Snowflake, XYZ Venture Capital, BoxGroup, Operator Collective, Zero Prime Ventures, Sequoia Capital, Vandelay Ventures and 12 others. |
| Which companies are comparable to Hex Technologies? | Companies comparable to Hex Technologies include Acceldata, MotherDuck, StarTree, Chalk, Business-intelligence and Exasol. |
| How many companies has Hex Technologies acquired? | Hex Technologies has acquired 1 company, including Hashboard. |
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