Fivetran Extends Market-Leading Position; More Than Doubles Revenue in 2021
Multiple acquisitions, customer growth, enterprise-grade product innovations mark a record year
Fivetran, the global leader in modern data integration, announced another year of substantial growth, extending its market-leading position. In 2021, the company acquired HVR and Teleport Data, while more than doubling its revenue and increasing its customer base by 75 percent. The Fivetran customer roster includes thousands of global companies such as ASICS, Condé Nast, Hermes Group, Lufthansa, Nando’s, Okta, Square, Thomson Reuters and WeWork. In September, the company raised $565 million in Series D funding, achieving a $5.6 billion valuation upon the closing of the acquisition of HVR.
Over the last 12 months, Fivetran customers have rapidly expanded their usage, doubling the total number of connectors that sync volume in a given month, now totaling more than 100,000 connectors. As the most reliable data platform, Fivetran manages on average every month more than 1.2 million schema changes with guaranteed 99.9 percent platform and data delivery uptime.
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“We’ve made significant progress this year advancing our mission to make access to data as simple and reliable as electricity through the acquisitions of HVR and Teleport Data,” said George Fraser, CEO at Fivetran. “Together our technologies help enterprises solve the dual challenges of database replication and modernizing analytics – both on-premise and in the cloud – so they can make the most of their data and drive revenue-impacting business decisions.”
Data is the lifeblood of the digital economy. Just like how electricity or oil is essential to making real-world businesses run, data pipelines make it possible for businesses to put more of their data to work. Fivetran is a cloud data integration service that manages data pipelines for the world’s leading companies. With prebuilt connectors that automatically adapt as schemas and APIs change, Fivetran provides instant access to more than 3.5 trillion rows of data every month. The company allows organizations, from enterprises to fast-moving startups, to quickly centralize and transform data from both SaaS and on-prem data sources into high-performance cloud destinations. As a result, customers are able to greatly increase operational efficiency and accelerate data analysis for critical business decisions.
“WeWork’s investment in Fivetran to centralize our data architecture and modeling has been paid back tenfold,” said Lucianne Millan, Senior Manager of Data Engineering, WeWork. “Our leadership team trusts that the data they are working with is up-to-date and accurate, helping us build a powerful data culture throughout WeWork.”
Fivetran made major advancements to support enterprise organizations in 2021, including the acquisition of HVR, the leader in real-time database replication. Fivetran also debuted key security-related features for enterprises with the introduction of Fivetran Business Critical, offering the highest level of protection for sensitive data. Fivetran is available for enterprises on a global scale, running in Google Cloud Platform (GCP), Amazon Web Services (AWS) and Microsoft Azure across 16 regions.
In January 2022, Fivetran announced Fivetran Transformations for dbt Core, one of the most popular open-source transformations frameworks in the data analyst community. The integration delivers new features to help companies simplify the complexities of the modern data stack, cut costs through ELT (extract-load-transform) automation, and accelerate data-driven decisions.
The Fivetran pipeline is maintained by a globally distributed team of hundreds of software and customer success engineers available 24/7/365. Fivetran customers receive world-class support, as evidenced by the company’s industry-leading 94 percent customer satisfaction score.
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Fivetran continued to expand its presence internationally in 2021. The company more than doubled both its EMEA revenues and customer count, and appointed two new senior executive leaders to spearhead enterprise growth in the EMEA and APAC regions. It also announced the opening of a new office and cloud region in Singapore, continuing the company’s expansion in APAC, and enabling Fivetran to provide customer support across all regions. Fivetran tripled revenue and doubled its customer base across APAC in 2021.
“We believe Fivetran’s growth remains unabated because the company provides a proven solution to a difficult data management problem just as businesses encounter an exponential growth in data fueled by a digital-first global economy,” said Martin Casado, General Partner at Andreessen Horowitz. “Fivetran functions as the key foundation of the modern data stack, and now, with the addition of HVR, is the unquestioned leader in data movement. Given the total addressable market for organizations that need to maximize the use of their data and data infrastructure, the company is in a very enviable position.”
Gartner reports the Data Management Software market is forecast to grow to $12.6 billion by 2025. Fivetran continues to be recognized across this rapidly growing industry – including by all of the leading cloud data warehouse vendors – as the top data movement provider in the modern data stack.
In 2021, it expanded partnerships across the ecosystem to deliver new integrations for customers including: Fivetran support for Databricks on GCP, AWS-specific deployment of Fivetran, and the ability to deploy Fivetran within Azure. Fivetran also offers multiple integrations with Google Cloud Platform. Additionally, Databricks recognized Fivetran for the second year in a row as an exceptional Databricks partner. The company has been recognized by top industry analyst firms including Gartner and was named to the 2021 Gartner Magic Quadrant for Data Integration Tools for the second consecutive year.
Over the past year, Fivetran has expanded its global team which now stands at approximately 1,000 employees. It has been named a winner of numerous awards recognizing its strong company culture and impressive business growth. 2021 accolades include the Best Places to Work for Parents by Great Place to Work; Built In 2022 100 Best Places to Work in the Bay Area and Colorado; Comparably Awards for Best Company Culture, Compensation & Employee Happiness. CEO George Fraser was named San Francisco Business Times 40 Under 40, and Fivetran was named to the Forbes Cloud 100, Deloitte Fast 500 and Inc. 5000 in 2021.
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