Fivetran raises $565M, to acquire HVR
- ByAyushi Ray | September 21, 2021
Tech firm Fivetran raises $565M, to acquire HVR. The series D round also saw participation from existing investors – General Catalyst, CEAS Investments, Matrix Partners, and others, along with new investors ICONIQ Capital, D1 Capital Partners and YC Continuity, a statement said. Fivetran has raised $730 million to date, and its valuation now stands at $5.6 billion.
George Fraser, CEO of Fivetran, said, the funding gives Fivetran the resources to expand its capabilities across all functions of the business and continue to accelerate its growth globally. The California-headquartered automated data integration solutions provider also stated that it has entered into a definitive agreement to acquire HVR, a 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 modernising analytics for operational data associated with ERP systems, Oracle databases, and more, the statement said. The combination of Fivetran and HVR complementary technologies will accelerate Fivetran’s mission to make access to data simple and reliable. The acquisition, a cash and stock deal, valued at $ 700 million, will help the startup’s customers 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, the statement said.
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