Fivetran Secures $125 Million Financing from Vista Credit Partners
- ByStartupStory | May 19, 2023
Fivetran, a tech startup, announced that it has received $125 million in financing from Vista Credit Partners, a subsidiary of Vista Equity Partners specializing in strategic credit and financing for enterprise software, data, and technology markets. The newly raised funds will be utilized to strengthen the company’s research and development efforts and expand its automated data movement platform, as stated in a press release.
“Data availability across an organization cannot be something in question. Access must be as simple and as reliable as electricity,” said George Fraser, CEO at Fivetran. As per Fraser, Fivetran’s data movement platform helps enterprises connect all of its data.
“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. “We are pleased to provide non-dilutive credit solutions and operational support to George and the entire team as they continue to innovate and help more companies become data-driven.”
In a funding round earlier in 2021, Fivetran successfully raised $565 million (approximately Rs 4,161.8 crore), with Andreessen Horowitz (a16z) leading the investment. The company reported a remarkable achievement of surpassing a revenue Annual Run Rate of over $200 million, demonstrating a significant 50% year-on-year increase.
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