One of the most competitive industries for startups is not exactly the sexiest. Data-analytics startups may not excite the average user, but venture-capital firms are going all in on the hot space.
Case in point: Fivetran, a data-analytics startup that centralizes companies’ data in a single dashboard, announced its $44 million Series B on Tuesday. Andreessen Horowitz, one of the most notable venture firms in Silicon Valley, led the round, and general partner Martin Casado will join the startup’s board of directors. Existing investors Matrix Partners and CEAS Investments also participated in the round.
“Data-driven insights are essential for building successful organizations, but the rapid growth of cloud-derived data makes it hard to provide a centralized view of marketing, sales, finance, or HR,” Fivetran cofounder and CEO George Fraser said. “We automate the data integration required to centralize data in cloud warehouses, eliminating the need to build complex data pipelines.”
Fivetran works by connecting business tools like Snowflake, Google Analytics, and customer-relationship-management software like Salesforce into a single dashboard for insights and analysis across different business teams. According to the startup, it has 750 customers, including other hot startups like Lime and Optimizely, in addition to more traditional retailers like Urban Outfitters.
For such a highly competitive industry, getting industry heavyweights as investors can make or break young startups. Fivetran exclusively shared with Business Insider the pitch deck its team used to bring on Andreessen Horowitz to its existing venture-investor roster.
See the pitch deck that helped Fivetran take on some of the biggest tech companies with $44 million in fresh funding.