dbt Labs, a Philadelphia, PA-based pioneer in analytics engineering, today announced that it raised $222 million 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 participating in Series D include Coatue, Tiger Global, ICONIQ Growth, GV, and GIC. Three strategic investors representing leaders in the shift to the cloud – Databricks, Salesforce Ventures, and Snowflake – also participated.
The new round of funding will allow dbt Labs to build the next layer in the modern data stack. The Series D funding round is the latest in a series of milestones solidifying dbt's position as the industry standard for data transformation in the cloud.
Company: dbt Labs, Inc.
Round: Series D
Funding Month: February 2022
Lead Investors: Altimeter
Additional Investors: Amplify Partners, Andreessen Horowitz, Sequoia, Coatue, Tiger Global, ICONIQ Growth, GV, and GIC
Company Website: https://www.getdbt.com/
Software Category: Analytics engineering tool
About the Company: dbt Labs develops an analytics engineering tool that prepares raw data in the warehouse for analysis. Since 2016, dbt Labs has been on a mission to help analysts create and disseminate organizational knowledge. dbt Labs pioneered the practice of analytics engineering, built the primary tool in the analytics engineering toolbox, and has been fortunate enough to see a fantastic community coalesce to help push the boundaries of the analytics engineering workflow. 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. dbt Labs also supports more than 1,000 customers using dbt Cloud, the centralized development experience for analysts and engineers alike to safely deploy, monitor, and investigate that code—all in one web-based UI.