Funding announcement

Fishtown Analytics Rebrands as dbt Labs; Closes $150M to Develop Open-Source Analytics Engineering Software

Fishtown Analytics Rebrands as dbt Labs; Closes $150M to Develop Open-Source Analytics Engineering Software, dbt Labs

dbt Labs (previously Fishtown Analytics) announced that it raised $150M in Series C financing. With this raise, the team will speed the development of dbt, its open-source analytics engineering tool. The round was co-led by Altimeter, Sequoia Capital, and Andreessen Horowitz with participation from Amplify Partners. Sequoia Capital, Andreessen Horowitz, and Amplify Partners are all existing investors. No new board members are joining the team.

"I worked as a data analyst for decades and was always slowed down by terrible workflows," said dbt Labs' CEO, Tristan Handy. "The shift to powerful, cloud-based data platforms presented an opportunity to finally rethink those workflows. We believed that combining software engineering best practices with the preferred language of data analysts—SQL—would unlock collaboration and speed for data teams. We called this the analytics engineering workflow."

Today, there are 15,000 data professionals in the dbt Community Slack; 5,500 companies using dbt; and 1,000 dbt Cloud customers. dbt Cloud is the fastest and most reliable way to develop and deploy dbt projects. dbt Cloud provides a centralized development experience for anyone who writes dbt code to safely deploy, monitor, and investigate that code--all in one web-based UI.

dbt adoption has grown 200% every year since its launch in early 2016. In Q1 of 2021, dbt Labs doubled revenue in the enterprise segment. This consistent growth is being driven by companies of all sizes shifting to cloud-based data platforms like Snowflake, Google BigQuery, Databricks, and Amazon Redshift. "The growth in cloud data platforms over the last few years is unprecedented. These platforms free data teams from the old ETL approach, and unlock a new wave of tools in the modern data stack built for ELT," said Altimeter Capital Partner, Jamin Ball. "dbt has established itself as the go-to platform for data transformation in this new way of working."

dbt Labs is expanding relationships with every major cloud platform. dbt has been validated through the AWS Redshift Ready, Works with BigQuery, and Snowflake Ready programs. dbt Cloud is available on the AWS Marketplace and will be available on Snowflake Partner Connect later this year. dbt Labs is recognized as an Amazon Select Technology Partner, a Google Build Partner, and served as a launch partner for Databricks SQL and Databricks-on-GCP.

"We have always believed that solving for the analyst is the secret to unlocking greater productivity on data teams," said Handy. "We're seeing increasing investment in companies and products built on this same thesis. Databricks' Delta Lake and Databricks SQL are huge bets on SQL, Census and Hightouch have raised venture rounds to solve operational analytics use cases, and Mode's dbt integration is now making data freshness available to data consumers. We absolutely believe that this is just the beginning of this trend."

The Series C gives dbt Labs further runway to make aggressive investments in building analytics engineering tooling for the data analyst. "Our mission is to empower analysts to create and disseminate organizational knowledge," said Handy. "This investment will allow us to further ramp hiring on product and engineering in order to build the future we've believed in for half a decade."

dbt Labs will be hosting the second-annual analytics engineering conference, Coalesce, December 6-10, 2021.

More announcements from dbt Labs

Team announcement

Becca Lindquist joins Fishtown Analytics as Head of Sales

Becca Lindquist joins Fishtown Analytics as Head of Sales

Fishtown Analytics is happy to announce Becca Lindquist as the newest addition to its growing team as Head of Sales. Fishtown’s team is distributed across the US. Apart from its headquarters in Spring Garden, Philadelphia, the company also has team members in Denver, Austin, Raleigh, and San Francisco, where Becca is expected to join. She will be reporting directly to Sales Directors Christine Singletary and Jason Diggs, as well as Account Executive Mackenzie Wyatt. Becca’s role is crucial to this mission-driven company. Her new role as Head of Sales will see her more than just driving sales at Fishtown, but she will also be responsible for adding onto and optimizing the company’s value in ways that will truly benefit Fishtown’s users. Becca holds a Command of the Message certification and a Manager certificate from Force Management — a team of highly lauded sales trainers. With this and her history in working for a number of software and technology companies, Fishtown Analytics is sure to benefit from her industry expertise. Before moving into her position as Fishtown Analytics’ Head of Sales, Becca started as an Account Executive at MyTime as the first sales hire at the company during its seed stage. With her exemplary talent for sales, her career journey then took her to Optimizely where she held the same designation. This eventually led to a directorship role at Heap Inc. where she thrived as its Mid-Market and Enterpise Sales Director. Her time at Heap has shown her incredible tenacity to get work done. It has highlighted her strengths as a selfless collaborator and educator. Inherently curious and a great listener, Becca brings her thoughtful and thorough communication skills to the fore, making her a top addition to Fishtown Analytics where she will be at the heart of sales leadership. An asset to every organization she has previously joined, her capable direction is sure to drive the Fishtown Analytics sales team to greater heights. Becca also has significant volunteer experience as part of the Board of Directors for GO! Athletes, the first national LGBTQ athlete and ally organization founded by and for LGBTQ student atheles at high school and college levels. In her time with the board, Becca coordinated social media campaigns and did valuable work for its community.

Team announcement

Matt Winkler joins Fishtown Analytics as Solution Architect

Matt Winkler joins Fishtown Analytics as Solution Architect

Matt Winkler joins Fishtown Analytics’s Sales team. From Denver, Matt will be designing enterprise data pipelines with dbt and dbt Cloud, Fishtown Analytics’s proprietary open-source engineering tools. The tools allow anyone with SQL knowledge to build data transformation workflows. Having recently raised $29.5 million in a Series B round led by Sequoia Capital, Fishtown Analytics is poised to expand. Working alongside other members of the Sales team, Matt will develop technical demonstrations of dbt Cloud, develop proof of concept implementations and facilitate trials of dbt Cloud, collaborate with the Product team to build and maintain the dbt Cloud enterprise roadmap, and operate as an active member of the dbt community. He will ensure that prospective clients have a thorough comprehension of dbt Cloud’s capabilities, and that the product itself is on a providential a path as possible. Prior to joining up with Fishtown Analytics, Matt spent more than two years as a Solution Architect for Slalom in Chicago, IL. While with Slalom, Matt defined and prioritized use cases, created architecture patterns that scaled and provided flexibility for future work, and executed development with a combination of team leadership and hands-on coding. Conducting most of this work in the Amazon Web Services (AWS) Cloud, Matt was lauded for his skills, knowledge, professionalism, and proactive personality. In 2011, Matt graduated from the University of Oklahoma with a Bachelor of Arts and Bachelor of Business Administration in Economics, Spanish, and International Business, and was a recipient of the National Merit scholarship. He went on to receive a Master of Science with distinction in Data Science from DePaul University, maintaining a 4.0 GPA, in 2017. Matt’s passion for all things computer science extends beyond his data analytics chops. Matt is also interested in neural network technology, having taken and passed three neural networks classes in 2020 alone.

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