Fivetran is now worth $1.2 billion thanks to new funding

Fivetran reaches coveted “unicorn” status after receiving Series C financing

Unicorn in a field

Data storage start-up Fivetran has announced that it has received $100 million in Series C financing co-led by General Catalyst and Andreessen Horowitz.

In a recent blog post, the company said it plans to use this money to “accelerate global expansion and drive adoption in the enterprise market.”

The Oakland-based tech startup helps businesses streamline the moving of data storage into the cloud. 

Advertisement - Article continues below

The added funding pushes the company into “unicorn” status, that is, a startup that reaches the $1 billion mark in value.

Fivetran was started in 2013 by George Fraser and Taylor Brown when they realized that businesses did not have any great options for transferring their data storage to the cloud. Their product boasts: "After a five-minute setup, Fivetran replicates all your applications, databases, events and files into a high-performance data warehouse.”

Despite unicorn status being hard to achieve, there are over 475 in existence today. The U.S. and China are the top two unicorn producing countries, but the US is gaining steam with nearly one new tech unicorn per month.

Companies can also reach "decacorn" or "hectocorn" status by reaching $10 billion and $100 billion valuations respectively.

Featured Resources

Staying ahead of the game in the world of data

Create successful marketing campaigns by understanding your customers better

Download now

Remote working 2020: Advantages and challenges

Discover how to overcome remote working challenges

Download now

Keep your data available with snapshot technology

Synology’s solution to your data protection problem

Download now

After the lockdown - reinventing the way your business works

Your guide to ensuring business continuity, no matter the crisis

Download now
Advertisement

Recommended

Best NAS drives 2020
network attached storage (NAS)

Best NAS drives 2020

19 Feb 2020

Most Popular

How to find RAM speed, size and type
Laptops

How to find RAM speed, size and type

3 Aug 2020
How to use Chromecast without Wi-Fi
Mobile

How to use Chromecast without Wi-Fi

4 Aug 2020
How do I fix the Windows 10 Start Menu if it's frozen?
operating systems

How do I fix the Windows 10 Start Menu if it's frozen?

3 Aug 2020