ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Fivetran to Acquire HVR; Announces $565 Million in Series D Funding

September 20, 2021 GMT

OAKLAND, Calif.--(BUSINESS WIRE)--Sep 20, 2021--

Fivetran, the leading provider of automated data integration, today announced it has entered into a definitive agreement to acquire HVR, a leading provider of enterprise data replication technology. The acquisition will allow Fivetran to provide breakthrough database replication performance along with enterprise-grade security to address the massive market for modernizing analytics for operational data associated with ERP systems, Oracle databases, and more.

Fivetran also announced it has raised a $565 million Series D round, consisting of new and existing investors. Andreessen Horowitz (a16z) led the round with participation from existing investors General Catalyst, CEAS Investments, Matrix Partners, and others, along with new investors ICONIQ Capital, D1 Capital Partners and YC Continuity. Fivetran has raised $730 million to date. The company is now valued at $5.6 billion.

ADVERTISEMENT

In the race to become data-driven, enterprises today continue to grapple with how to extract and centralize data for analysis across the company, and the majority continue to leave valuable data untapped. According to Gartner (cited in this Accenture report ), 97% of data sits unused by organizations. Legacy on-premise technologies for operational data including enterprise resource planning (ERP) systems like SAP and Oracle databases further complicate the issue. Accenture also noted in the same report that 92% of ERP platforms require manual intervention to enable data sharing. When these ERP systems and critical business applications are centralized onto a modern data stack, global organizations can uncover deeper insights more quickly with dramatically fewer resources.

The combination of Fivetran and HVR complementary technologies will accelerate Fivetran’s mission to make access to data as simple and reliable as electricity. The acquisition — a cash and stock deal valued at $700 million — strengthens Fivetran’s market position as one of the data integration leaders for all industries and all customer types. The combined capabilities of Fivetran and HVR will enable modern analytics for the world’s most business-critical data without compromising security, performance or ease of use.

ADVERTISEMENT

Fivetran customers will gain access to a broader range of high-performance data replication solutions, including HVR’s change data capture connectors and a secure, on-premise option for companies with legacy databases. HVR’s customers will have access to Fivetran’s broad range of pre-built, fully managed data connectors and transformation capabilities. The combined skills of both companies’ technical teams will enable them to offer the most robust modern data integration solution for any-sized organization.

The Fivetran customer roster includes thousands of global companies such as ASICS, Autodesk, BJ’s Restaurants, Conagra Brands, DocuSign, Forever 21, Lionsgate, Square and Ziff Davis. HVR’s customers include dozens of Fortune 500 brands.

“HVR is a recognized leader for enterprise database replication and shares our same vision – to make access to data as simple and reliable as electricity. Their product is the perfect complement to our automated data integration technology and will be instrumental for us to help enterprise organizations that want to improve their analytics with a modern data stack,” said George Fraser, CEO of Fivetran. “The funding gives Fivetran the resources to expand our capabilities across all functions of the business and continue to accelerate our growth globally.”

“The secure and efficient movement of data is a foundational requirement for the modern organization. HVR helps organizations to not only harness the power of that data, but also realize the potential of it,” said Anthony Brooks-Williams, CEO of HVR. “Combining HVR and Fivetran will enable a next-generation solution that will better inform business decisions by providing the freshest data available. We’re thrilled to be joining forces with Fivetran and look forward to what this incredible opportunity will provide for our growing team, partners and customers.”

The transaction has been approved by the Boards of Directors of both companies, though finalization of Fivetran’s acquisition of HVR is subject to customary approvals. The deal is expected to close in early October.

“Fivetran is a critical component of the modern data stack. Without an always-on, accurate, and reliable way to centralize data, global organizations aren’t maximizing the use of data or data infrastructure,” said Martin Casado, General Partner at Andreessen Horowitz. “Fivetran solves the complex challenge of scaling and automating data integration better than anyone else, and joining forces with HVR will expand Fivetran’s capabilities to address the performance and security requirements of the enterprise and Global 2000. The modern data stack is a paradigm shift for global enterprises – with billions of dollars of revenue at stake – and Fivetran is a foremost catalyst in this shift.”

“We are seeing the promise of how data can transform businesses, by harnessing its power to create the insights and breakthroughs needed to produce positive, world-changing products, solutions and services,” said Matthew Jacobson, General Partner at ICONIQ Growth. “We are very impressed with the ease of use and effectiveness of Fivetran’s platform, and believe in its potential to automate reliable data connections. We have been fortunate to partner with many high-growth, cloud-based, infrastructure market leaders, and we believe Fivetran is a category-defining leader in the broader data ecosystem.”

Visit the Fivetran blog to learn more.

About Fivetran

Fivetran, a leader in automated data integration, delivers ready-to-use connectors that automatically adapt as schemas and APIs change, ensuring consistent, reliable access to data. Fivetran improves the accuracy of data-driven decisions by continuously synchronizing data from source applications to any destination, allowing analysts to work with the freshest possible data. To accelerate analytics, Fivetran automates in-warehouse transformations and programmatically manages ready-to-query schemas. Fivetran is headquartered in Oakland, California, with offices around the globe. For more information, visit fivetran.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210920005344/en/

CONTACT: Ross Perich

press@fivetran.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY DATA MANAGEMENT

SOURCE: Fivetran

Copyright Business Wire 2021.

PUB: 09/20/2021 10:00 AM/DISC: 09/20/2021 10:02 AM

http://www.businesswire.com/news/home/20210920005344/en