dbt Labs raises $222M in Sequence D funding at $4.2B valuation led by Altimeter with participation from Databricks and Snowflake

PHILADELPHIA, Feb. 24, 2022 /PRNewswire/ — dbt Labs, the pioneer in analytics engineering, at this time introduced that it has raised $222 million in Sequence D financing at a $4.2 billion valuation. The spherical was led by present investor, Altimeter, with participation from present traders Amplify Companions, Andreessen Horowitz, and Sequoia. New traders taking part within the Sequence D embrace Coatue, Tiger World, ICONIQ Development, GV, and GIC. Three strategic traders representing leaders within the shift to the cloud – Databricks, Salesforce Ventures, and Snowflake – additionally participated. No new board members are becoming a member of the crew.

Demand for dbt is pushed by the industry-wide shift to cloud-based information platforms like Snowflake, Google Bigquery, and Databricks. Over the previous two years, dbt has emerged because the {industry} commonplace for information transformation within the cloud. dbt permits information groups to rework information in-warehouse, and deploy analytics code following software program engineering greatest practices. This new manner of working, referred to as analytics engineering, has been pioneered by dbt Labs alongside the worldwide dbt Neighborhood of greater than 25,000 information professionals.

The brand new spherical of funding will enable dbt Labs to construct the subsequent layer within the fashionable information stack. “As dbt has turn into accepted because the {industry} commonplace for information transformation, our most forward-thinking neighborhood members have begun musing publicly about the way forward for the trendy information stack and about dbt’s position in it,” mentioned Tristan Helpful, Founder and CEO of dbt Labs. “As an information practitioner, I couldn’t be extra enthusiastic about our product roadmap: an open layer to outline a company’s single supply of fact, accessible through each BI and analytics device.”

Funding from the main cloud information platforms is the most recent milestone solidifying dbt’s place because the accepted {industry} commonplace. Notable milestones from the previous 12 months embrace:

  • Neighborhood progress: The dbt Neighborhood now consists of 25,000 information professionals, 12 dbt Meetups in 8 nations, and greater than 9,000 corporations utilizing dbt.
  • Buyer progress: dbt Labs elevated annual recurring income by 6x in 2021, rising to a buyer base of 1,800 accounts together with JetBlue, Nasdaq, Lendlease, Dunelm, and Canva.
  • Consumer convention progress: dbt Labs hosted the most important world convention devoted to analytics engineering with greater than 7,000 attendees. Coalesce 2022 is scheduled for October 17-21.
  • Deepened partnerships: The variety of associate merchandise supporting information transformation workloads with dbt elevated by 2x in 2021. dbt Labs added integrations with companions together with Firebolt, Materialize, Microsoft, Rockset, Starburst, and Teradata, along with present integrations with AWS, Databricks, Google Cloud, and Snowflake merchandise.
  • New use instances: dbt Cloud APIs now powers greater than 25 enterprise purposes delivering options throughout classes of enterprise intelligence, operational analytics, information discovery, information high quality, and information governance.

“The info {industry} is converging round unified cloud information architectures supporting machine studying, information science, and enterprise intelligence use instances,” mentioned Jamin Ball, Associate at Altimeter. “dbt is uniquely well-positioned for this future. dbt gives a metamorphosis framework fitted to the wants of information engineers, information scientists, and enterprise analysts–a number of customers with a number of use instances working from a single data layer.”

“Just like the dbt Labs crew, we consider that every one information customers ought to have entry to the identical highly effective instruments and workflows utilized by engineers,” mentioned Ali Ghodsi, CEO of Databricks. “With Databricks SQL, we’re now enabling information warehouse workloads. And with dbt, analysts are capable of entry Databricks machine studying and information science capabilities. We’re wanting ahead to deepening our partnership with dbt Labs over the approaching years as, collectively, we broaden what’s doable within the fashionable information stack.”

“The work the dbt Labs crew does to assist analysts create and disseminate organizational data aligns with our mission to assist our clients simply discover insights, make higher selections and thrive on this new data-driven world,” mentioned Francois Ajenstat, Chief Product Officer of Tableau. “We’re excited to see dbt Labs innovate the methods through which information is accessed, reworked and analyzed.”

“Snowflake and dbt Labs share a typical imaginative and prescient of information democratization. We see organizations unlock the facility of their information when extra individuals are capable of take part in analytics processes,” mentioned Christian Kleinerman, SVP of Product at Snowflake. “By deepening our partnership with dbt Labs, we provide joint clients the flexibility to resolve their enterprise issues in a easy, scalable, and safe surroundings utilizing the facility of the Snowflake Knowledge Cloud.”

“We’re wanting ahead to enhancing our information technique with dbt,” mentioned Summer time Collins, Head of Knowledge and Development Functionality at Vodafone New Zealand. “We’re enterprise a big digital transformation venture in New Zealand emigrate to a contemporary platform and framework. Working with dbt drastically helps our velocity of growth, collaboration requirements, and information high quality.”

For extra data, go to: https://www.getdbt.com/

About dbt Labs
Since 2016, dbt Labs has been on a mission to assist analysts create and disseminate organizational data. dbt Labs pioneered the follow of analytics engineering, constructed the first device within the analytics engineering toolbox, and has been lucky sufficient to see a incredible neighborhood coalesce to assist push the boundaries of the analytics engineering workflow. In the present day there are 9,000 corporations utilizing dbt each week, 25,000 practitioners within the dbt Neighborhood Slack, and 1,800 corporations paying for dbt Cloud.

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