Tech startup Fivetran on Friday said it received $125 million in financing from Vista Credit Partners, a subsidiary of Vista Equity Partners and a strategic credit and financing partner focused on the enterprise software, data and technology markets.
The fresh round of funds will be used bolster its R&D (research and development) and expand its automated data movement platform, it said in a statement.
“Data availability across an organization cannot be something in question. Access must be as simple and as reliable as electricity,” said George Fraser, CEO at Fivetran. As per Fraser, Fivetran’s data movement platform helps enterprises connect all of its data.
“Fivetran is an ideal partner for Vista Credit Partners as a founder-led, scaled and growing category leader providing mission-critical solutions to modern businesses,” said David Flannery, President at Vista Credit Partners. “We are pleased to provide non-dilutive credit solutions and operational support to George and the entire team as they continue to innovate and help more companies become data-driven.”
Earlier in 2021, Fivetran had raised $565 million in funding (about Rs 4,161.8 crore) led by Andreessen Horowitz (a16z). In the past year, it achieved a revenue Annual Run Rate of over $200 million, a 50% year-on-year increase, it said.
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