USA – dbt Labs, a Philadelphia, PA-based analytics engineering company, raised $222m in Series D financing at a $4.2 billion valuation.
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. dbt enables data teams to transform data in-warehouse, and deploy analytics code following software engineering best practices. This new way of working, known as analytics engineering, has been pioneered by dbt Labs alongside the global dbt Community of more than 25,000 data professionals.Led by Tristan Handy, Founder and CEO, dbt Labs pioneered the practice of analytics engineering enabling analysts to create and disseminate organizational knowledge. Today there are 9,000 companies using dbt every week, 25,000 practitioners in the dbt Community Slack, and 1,800 companies paying for dbt Cloud.The company intends to use the funds to expand operations and its business reach. 25/02/2022
