Fivetran, a rapidly growing provider of automated data integration systems, says HVR will allow it to provide “breakthrough database replication performance” along with enterprise-grade security to address the “massive market for modernising analytics”.
The funding round was led by Andreessen Horowitz, with the involvement of existing investors and new participants ICONIQ Capital, D1 Capital Partners and YC Continuity.
Fivetran has raised $730 million to date. The company is now valued at $5.6 billion, said Fivetran.
The acquisition, involving cash and stock, is said to strengthen Fivetran’s market position as a key player in data integration across all industries.
Fivetran customers will gain access to a broader range of 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 range of pre-built, fully managed data connectors and transformation capabilities.
“HVR is a recognised leader for enterprise database replication, their product is the perfect complement to our automated data integration technology and will be instrumental for us to help enterprise organisations that want to improve their analytics with a modern data stack,” said George Fraser, CEO of Fivetran.
“And the new funding gives us the resources to expand our capabilities across all functions of the business and continue to accelerate global growth.”
Anthony Brooks-Williams, CEO of HVR, added: “Combining HVR and Fivetran will enable a next-generation solution that will better inform business decisions by providing the freshest data available.”
The deal is expected to close in “early October”, said the two companies.
