dbt Labs simply raised a $222M Collection D for a $4.2B valuation because it builds the ‘trendy information stack’

Lower than a yr after dbt Labs raised a Collection C and rebranded, the analytics engineering firm introduced Thursday it had raised a $222 million Collection D.

The spherical brings the Spring Backyard-headquartered firm’s valuation to $4.2 billion, after it reached unicorn standing with its July 2021 elevate. Current investor, Altimeter, with participation from current buyers Amplify Companions, Andreessen Horowitz and Sequoia led this spherical, and are joined by new buyers Coatue, Tiger World, ICONIQ Development, GV and GIC. Three strategic buyers from Databricks, Salesforce Ventures and Snowflake additionally participated.

At first of 2022, dbt mentioned it had 9,000 firms utilizing its open supply, SQL-based information analytics software, and that this spherical of funding will enable it to construct the “subsequent layer within the trendy information stack.”

“As dbt has develop into accepted because the {industry} commonplace for information transformation, our most forward-thinking group members have begun musing publicly about the way forward for the trendy information stack and about dbt’s position in it,” founder and CEO Tristan Helpful mentioned in an announcement. “As an information practitioner, I couldn’t be extra enthusiastic about our product roadmap: an open layer to outline a corporation’s single supply of reality, accessible by way of each BI and analytics software.”

The dbt staff now stands round 200 folks, together with about 60 engineers, Helpful wrote in a weblog put up at this time. It’s been a pointy progress trajectory for an organization that only a few years in the past was sufficiently small to take workplace area inside 76 Ahead’s coworking hub on the Curtis Middle. dbt Labs additionally raised a $29.5 million Collection B in fall 2020.

When requested for remark about whether or not dbt Labs plans to go public sooner or later, Helpful informed Technical.ly: “What I can say is that we intend to stay unbiased. We imagine that independence shall be vital as we glance in direction of the way forward for dbt, the dbt Group and the apply of analytics engineering.”

dbt Labs staff members. (Courtesy picture)

The spherical is predicted to assist dbt Labs obtain a few objectives. It is going to assist develop its group of information professionals and dbt meetups, in addition to the variety of firms utilizing dbt. It is going to additionally enable dbt to proceed rising its income, which climbed six-fold in 2021, the corporate mentioned. And the funding will assist deepen {industry} partnerships: The corporate had integrations with the likes of Firebolt, Materialize, Microsoft, Rockset, Starburst and Teradata, along with current integrations with AWS, Google Cloud, Databricks and Snowflake merchandise in 2021.

Funds may even go towards rising its consumer convention, Coalesce, which hosted about 7,000 folks in 2021, and plans to return in October 2022. It additionally brings potential for brand new use instances for dbt Labs’ product, which powers 25-plus enterprise purposes delivering options throughout classes of enterprise intelligence, operational analytics, information discovery, information high quality and information governance.

“The information {industry} is converging round unified cloud information architectures supporting machine studying, information science and enterprise intelligence use instances,” mentioned Jamin Ball, accomplice at Altimeter, in an announcement. “dbt is uniquely well-positioned for this future. dbt supplies a change framework suited 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 information layer.”

Within the weblog put up revealed at this time, Helpful displays on the final six years of the corporate’s progress, saying he nonetheless believes his most central query is “what does the group want from us?” as the corporate, product and panorama evolves.

The corporate will proceed to evolve its use instances, Helpful mentioned, as his staff heard from shoppers and group members about the way forward for the trendy information stack all through 2021.

“I might learn newsletters with subtle takes on what of us believed our product roadmap ought to seem like after which would get a sequence of Slack DMs after-the-fact from curious practitioners expressing pleasure and enthusiasm,” he wrote. “It was surreal; I felt like there was this industry-wide dialog about what dbt ought to develop into and I simply bought to pay attention in.”

Need to do the identical? Helpful and cofounder Drew Banin, together with CPO Margaret Francis, will host a dbt group AMA on March 4 on the way forward for dbt.

Register right here -30-

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