Fivetran, the data startup company, has received $ 125 million in debt financing from Vista Credit Partners. This is to accelerate enterprise growth, global go-to-market strategy, and platform innovation.
The company CEO, George Fraser, said that the automated data movement platform of Fivetran helps enterprises to connect to all of their data. This is either in the cloud or on-prem with 99.9% guaranteed uptime. The financing shall allow them to accelerate research and development. It will also help the company to expand its automated data movement platform as they continue to scale worldwide.
The tech unicorn claims to have achieved $ 200 million in annual revenue run rate in the past year. It also had a 50% year-over-year increase. The company helps several brands, including Conagra Brand, Autodesk, and Morgan Stanley. This is to accelerate data-driven decisions and equally drive business growth.
With the integration of HVR, Fivetran is providing several large enterprises that require high-volume multi-directional data synchronization in real-time from sources such as SAP and Oracle.
The company claims to be rapidly growing in India with 100 employees, dedicated in-country GCP, and AWS data centres. The company CEO, George Fraser, said that many successful enterprises are data companies in the macroeconomic climate. Enterprises depend on data to run their business. This is from making revenue-impacting decisions to driving operational efficiencies. The data availability across an organization cannot be in question. Access has to be simple and reliable.
Amid the unsure macroeconomic environment globally and the startup ecosystem now gripped by a funding winter. As a result, founders are resorting to several unconventional methods to raise funds. This is for extending the cash runway of their businesses.
Venture debt deals were gaining momentum. Additionally, a report by Stride Ventures reveals that startup funding with the help of the venture debt route increased by almost 3 times from 2019 to 2022.
But, the industry, at present, is still at a nascent stage, with venture debt penetration in India. This is at only $ 0.8 billion, compared to the USA, which is at $ 32 billion.
51% of the amount invested by venture debt companies went into ‘Series D and beyond’ companies. However, the ‘pre-series A’ companies bagged the most deals.
What is HVR software?
HVR software is a High Volume Replicator. It is an Enterprise Data Replication solution that replicates from DB2, Oracle, SQL Server, etc., into Teradata using change data captured from the DBMS logs.
HVR is a powerful software product. It enables real-time homogeneous and also heterogeneous data replication. HVR uses several Change Data Capture methods to replicate changes between databases, directories, and between databases and directories that HVR calls ‘locations’.
About Fivetran
Fivetran is a data software company which is based in California. It enables analysts to store and access their data in cloud data warehouses. The company CEO and Co-founder is George Fraser.
