Sunday, 11 April 2021

Fivetran Doubles Revenue and Customers in 2020

posted by Fivetran
Wednesday 24 February 21

Fivetran, the leading automated data integration provider, today announced another year of explosive growth — doubling its revenue and customer base, and growing its global team to nearly 500. The Fivetran customer roster includes global companies such as ASICS, Autodesk, BJ’s Restaurants, Conagra Brands, DocuSign, Forever 21, Lionsgate, Square, Strava, Urban Outfitters and Ziff Davis. The company achieved a $1.2 billion valuation following its $100 million Series C funding in June. To stay competitive in today’s digital economy, organisations must be able to quickly and reliably access all their data to make decisions. As a cloud data integration service, Fivetran manages its customers’ data pipelines with instant access to more than 1.5 trillion rows of data every month. Fivetran automates delivery of data to leading cloud data stores the same way a utility company delivers electricity…

Fivetran, the leading automated data integration provider, today announced another year of explosive growth — doubling its revenue and customer base, and growing its global team to nearly 500. The Fivetran customer roster includes global companies such as ASICS, Autodesk, BJ’s Restaurants, Conagra Brands, DocuSign, Forever 21, Lionsgate, Square, Strava, Urban Outfitters and Ziff Davis. The company achieved a $1.2 billion valuation following its $100 million Series C funding in June.

To stay competitive in today’s digital economy, organisations must be able to quickly and reliably access all their data to make decisions. As a cloud data integration service, Fivetran manages its customers’ data pipelines with instant access to more than 1.5 trillion rows of data every month. Fivetran automates delivery of data to leading cloud data stores the same way a utility company delivers electricity, by centralising all of an organisation’s data even when source systems change including schemas or APIs. As a result, companies can focus more time putting their data to work versus figuring out how to find, collect, manage, and centralise the data.

“Our strong business momentum is the result of two simple facts: we provide always-available data pipelines that ‘just work,’ and we stand by our word to make access to data as simple and reliable as electricity. To put that in perspective, Fivetran manages more than 700,000 schema changes every month — events that commonly break legacy ETL pipelines and need to be fixed by a data engineer. This is the value of Fivetran — delivering accurate, timely data even when source systems change, which ultimately powers analytic teams to make better decisions,” said George Fraser, CEO of Fivetran.

To better service its customers, Fivetran grew its presence across the globe, opening new offices in Germany, France, India and Australia in 2020. Fivetran also added new data centres in these regions as well as in Canada, ensuring locally-delivered pipelines in accordance with its customers’ best practice data governance principles.

Over the last 12 months, Fivetran customers have doubled the total number of connectors that sync data, now totalling more than 30,000 monthly connectors managed by Fivetran. Given their positive experience, customers continue to expand their use of Fivetran across their respective organisations, fuelling global user adoption to a record number.

2020 also marked a year of enterprise-class infrastructure and reliability upgrades of all Fivetran service offerings. Managing more than one million syncs daily, Fivetran guarantees 99.9 percent data pipeline uptime. Its ever-expanding portfolio of connectors are maintained by a globally distributed team of more than 200 software and customer success engineers available 24/7/365.

As a result of these product and service upgrades in 2020, Fivetran customers experienced world-class support as evidenced by the company’s industry-leading 93 percent customer satisfaction rating. In addition, 94 percent of Fivetran customers cited positive or very positive experiences with its support team.

“Fivetran is the pipeline of the modern data stack that moves data quickly, accurately, and cost-effectively to data warehouses and lakes, where it powers analytics across organisations,” said Bob Muglia, entrepreneur, former Snowflake CEO and Microsoft President. “Fivetran dramatically simplifies the process of collecting and preparing data for analytics and data science. It makes it easy for organisations of any size to quickly deliver value from data, and that's why Fivetran is the ELT leader in the modern data stack.”

Fivetran delivered several new product enhancements and features over the past year, including new enterprise database connectors for IBM, SAP and Oracle. The company also added integration for dbt, the popular open-source analytics engineering tool maintained by Fishtown Analytics, providing data analysts and engineers the ability to transform data for immediate use. Additionally, Fivetran advanced its integration with Databricks, addressing Delta Lake and the Lakehouse architecture with SQL Analytics to accelerate time-to-value for customers.

“At Innive, we provide our customers with a scalable framework for ingesting data from multiple sources, creating a single source of truth that enables better business decision making. In order to keep up with not only the growth in our customer data volumes but also required new data sources, we needed a more modern and scalable data integration solution,” said Vivek Chakravarti, senior data architect for Innive. “By using Fivetran, we have been able to quickly and easily migrate billions of rows of data, from a variety of data sources including on-premises databases, into a customer’s cloud data warehouse. Fivetran’s automated data pipelines and large library of connectors have saved us tremendous time and have eliminated significant cost.”

Over the past year, Fivetran has been recognised by the leading cloud data warehouse vendors as the top “EL” provider in the modern data stack ELT architecture. In 2020, the company received accolades from various partners, including: Snowflake Technology Partner of the Year (Top Performer) award and Amazon Web Services (AWS) Data and Analytics Competency designation. Fivetran was also named a Google Cloud Premier Partner, the highest achievable status reserved for Google Cloud partners, for its continued collaboration with BigQuery. In November, Databricks saluted Fivetran with the ISV Partners Innovation Award. The company has also been recognised by top industry analyst firms including Gartner and made its debut in the 2020 Gartner Magic Quadrant for Data Integration Tools.

Fivetran has also been the recipient of numerous awards, recognising its strong business growth and company culture. Accolades include: the 20 “Best Small & Medium Workplaces” and 2021 Best Places to Work in the Bay Area by Great Place to Work and Fortune; BuiltIn 2021 100 Best Places to Work (#1 in Colorado; #11 in the Bay Area); Business Insider Top 100 Startups; 2020 Deloitte Fast 500; 2020 SF Business Times Fastest Growing Companies; and Enterprise Tech 30 for 2020. Fivetran was also named to the Forbes Cloud 100 and Forbes Next Billion Dollar Startups list in 2020.


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