DBT Labs raises $222 million in Sequence D funding at a valuation of $4.2 billion led by Altimeter with participation from Databricks and Snowflake

philadelphia, February 24, 2022 /prnewswire/- DBT Labsa pioneer in analytics engineering, at the moment introduced that it has raised $222 million a in collection d financing $4.2 billion The valuation spherical was led by an current investor, Altimeter, with participation from current buyers Amplify Companions, Andreessen Horowitz and Sequoia. New buyers taking part in Sequence D embody Cotue, Tiger International, ICONIQ Development, GV and GIC. Three strategic buyers representing the leaders within the shift to the cloud — Databricks, Salesforce Ventures and Snowflake — additionally participated. No new board members are becoming a member of the workforce.

The demand for DBT is pushed by an industry-wide shift to cloud-based information platforms resembling Snowflake, Google BigQuery and Databricks. Over the previous two years, DBT has emerged because the {industry} normal for information transformation within the cloud. DBT permits information groups to transform information in-warehouse, and deploy analytics code following software program engineering greatest practices. This new method of working, often known as analytics engineering, is pioneered by DBT Labs with a worldwide DBT neighborhood of over 25,000 information professionals.

The brand new spherical of funding will permit DBT Labs to be the following layer within the fashionable information stack. “As DBT has been accepted because the {industry} normal for information transformation, members of our forward-thinking neighborhood have begun to publicly take into consideration the way forward for fashionable information stacks and the position of DBT in ,” he stated. Tristan Useful, Founder and CEO of DBT Labs. “As a knowledge practitioner, I could not be extra enthusiastic about our product roadmap: an open layer to outline a company’s single supply of fact, accessible via each BI and analytics device.”

The funding from a number one cloud information platform is the most recent milestone in cementing DBT’s place as an accepted {industry} normal. Notable milestones from the previous 12 months embody:

  • neighborhood Growth: The DBT neighborhood now contains 25,000 information professionals, 12 DBT meetups in 8 nations, and over 9,000 corporations utilizing DBT.
  • Buyer Development: DBT Labs grew 6x annual recurring income in 2021, rising a buyer base of 1,800 accounts together with JetBlue, Nasdaq, Lendledges, Dunlam and Canva.
  • Consumer Convention Development: DBT Labs hosted the most important world convention devoted to analytics engineering with over 7,000 attendees. Coalesce is scheduled for 2022 October 17-21,
  • Deep Partnership: The variety of accomplice merchandise supporting information transformation workloads with dbt elevated by 2x in 2021. dbt Labs added integrations with companions together with Firebolt, Materialize, Microsoft, Rockset, Starburst, and Teradata, along with current integrations with AWS, Databricks, Google Cloud. and snowflake merchandise.
  • New use instances: The DBT Cloud API now powers over 25 enterprise purposes, offering options within the classes of Enterprise Intelligence, Operational Analytics, Information Discovery, Information High quality and Information Governance.

“The info {industry} is converging round built-in cloud information architectures supporting machine studying, information science and enterprise intelligence use instances,” stated jammin ball, accomplice in Altimeter. “DBT is uniquely nicely positioned for this future. DBT gives a metamorphosis 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 “

“Just like the DBT Labs workforce, we imagine that each one information customers ought to have entry to the identical highly effective instruments and workflows utilized by engineers.” Ali GhodsiCEO of Databricks. “With Databricks SQL, we at the moment are enabling information warehouse workloads. And with DBT, analysts are in a position to entry Databricks machine studying and information science capabilities. We look ahead to constructing our partnership with DBT Labs collectively within the years to return Hoping to delve additional, we increase what is feasible in fashionable information stacks.”

Francois Agenstatt, Chief Product Officer of the DBT Labs workforce, stated, “The work that the DBT Labs workforce does helps analysts create and disseminate organizational information, which permits our purchasers to simply discover insights, make higher selections, and make higher selections on this new data-driven enterprise.” aligns with our mission to assist the world thrive.” Tableau. “We’re excited to see DBT Labs innovate the best way we entry, rework and analyze information.”

“Snowflake and DBT Labs share a typical imaginative and prescient of information democratization. We see organizations unlock the ability of their information when extra persons are in a position to take part in analytics processes,” stated Christian KleinermanSVP of Product at Snowflake. “By deepening our partnership with DBT Labs, we give United clients the flexibility to resolve their enterprise issues in a easy, scalable and safe setting utilizing the ability of Snowflake Information Cloud.”

“We’re trying ahead to enhancing our information technique with DBT,” stated summer time collins, Head of Information and Development Capability at Vodafone New Zealand. “We’re beginning an enormous digital transformation venture in New Zealand Emigrate to a contemporary platform and framework. Working with DBT drastically helps our development pace, collaboration requirements and information high quality.”

For extra info go to: https://www.getdbt.com/

About DBT Labs
Since 2016, DBT Labs has been on a mission to assist analysts create and disseminate organizational information. DBT Labs pioneered the apply of analytics engineering, making it the first device within the analytics engineering toolbox, and has been lucky to see a unbelievable neighborhood serving to to push the boundaries of analytics engineering workflows. At this time, 9,000 corporations are utilizing DBT each week, 25,000 companies within the DBT neighborhood Slack, and 1,800 corporations are paying for DBT Cloud.

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