dbt Labs Raises $222M in Series D Funding at $4.2B Valuation
Summary
The round was led by existing investor Altimeter, with participation from existing investors Amplify Partners, Andreessen Horowitz, and Sequoia, new investors Coatue, Tiger Global, ICONIQ Growth, GV, and GIC, as well as strategic backers Databricks, Salesforce Ventures, and Snowflake. Demand for dbt is driven by the industry-wide shift to cloud-based data platforms like Snowflake, Google Bigquery, and Databricks. Over the past two years, dbt has emerged as the industry standard for data transformation in the cloud. Led by Tristan Handy, Founder and CEO, dbt Labs pioneered the practice of analytics engineering enabling analysts to create and disseminate organizational knowledge. The company intends to use the funds to expand operations and its business reach.
Funding
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