Fivetran has successfully obtained a financing round of USD 125 million from Vista Credit Partners, a subsidiary of Vista Equity Partners, along with strategic credit.
The recently acquired debt financing will be utilized to bolster Fivetran’s ongoing innovation efforts and fuel the company’s expansion in the enterprise sector, as per reported by BW Disrupt.
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While commenting on the development, George Fraser, CEO of Fivetran, said, “The financing will allow us to accelerate R&D and expand our automated data movement platform as we continue to scale globally.”
Over the past year, Fivetran has experienced significant growth with an annual revenue run rate of USD 200 million, marking a 50 percent increase compared to the previous year. Furthermore, Fivetran has been actively expanding its range of product functionalities during this period.
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“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.
About Fivetran
Headquartered in Oakland, California, Fivetran is a data integration platform that specializes in automating data movement across various cloud data platforms. By automating the time-consuming aspects of the ELT (Extract, Load, Transform) process, Fivetran simplifies tasks such as handling schema drift, performing transformations, and ensuring data engineers have peace of mind when it comes to their pipelines.
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