Member Article

Fivetran increases growth streak; surpasses $200 million revenue run rate

Company grows revenue more than 50%, serving 5,000+ customers; lands accolades for award-winning data movement solution, industry partnerships, and workplace culture

Fivetran, the global leader in automated data movement, today announced a year of strong momentum and continued growth. Buoyed by the popularity of its fully managed pre-built connectors – making data access as simple and reliable as electricity – the company reported $200+ million in annual revenue run rate – a 50% year-over-year increase – more than 5,000 customers, and a new product line, leveraging generative AI technology. In addition, Fivetran received multiple accolades for its industry-leading technology, customer impact, and outstanding culture.

Among its customers, Fivetran advanced its position as the world’s most reliable data movement platform with 99.9% guaranteed uptime and record usage now totalling more than 175,000 connectors synched per month. Fivetran moves more than 2,000 TB of data monthly managing more than 1.3 million schema changes and provides 24/7/365 global support with a distributed team of hundreds of software and customer success engineers. Fivetran runs in all three of the major cloud service providers (Amazon Web Services, Google Cloud Platform, and Microsoft Azure), and supports more than 20 cloud regions across those global providers.

“In a tough macroeconomic climate – especially in the technology sector, Fivetran is a rare exception as it continues to outperform the market across multiple dimensions,” said Bob Muglia, Fivetran board member and former senior executive at Microsoft. “The reason is simple: now, more than ever, companies need to automate how data is accessed and used to be more competitive, efficient, and manage business growth. Fivetran is delivering an enterprise-class, automated data movement platform – used by Fortune 500 and SMBs alike – to run their businesses. The company is poised to have an outsized presence in the technology landscape for years to come.”

In 2022, Fivetran was named by Google Cloud as Global Technology Partner of the Year, selected by Snowflake as the Data Integration Partner of the Year, and by Databricks as Data Ingestion Partner of the Year. The Financial Times reported Fivetran as one of the fastest-growing companies in the Americas, and Fivetran was also included as one of the top 100 companies on the Deloitte Technology Fast 500 list. Earlier this month, Fivetran was included on G2’s prestigious 2023 Best Software List. Fivetran was also named to the 2022 Forbes Cloud 100 and awarded a Ventana Research 2022 Digital Leadership Award for driving business transformation with Oldcastle Infrastructure, citing a return on investment totalling multiple millions of dollars.

In addition, Fivetran was honoured as a top employer multiple times. Based on employee feedback, Fivetran ranked #2 on the 2022 Best Workplaces in the Bay Area list by Great Place to Work and Fortune. It also ranked #5 on the 2022 Best Workplaces in Technology list, #6 on the 2022 Best Workplaces for Millennials list, and #7 on the 2022 Best Medium Workplaces by Great Place to Work and Fortune. In 2022, Fivetran earned more than a dozen awards from Comparably, including Best Company Culture, Best Leadership Teams, Best Companies for Career Growth, Best Engineering Teams, and Best Product and Design Teams. Fivetran CEO George Fraser was named to Comparably’s 2022 Best CEOs list. Technology recruitment platform Built In also recognised Fivetran as a 2023 Best Place to Work.

“Businesses are only as good as their underlying data. High-performing companies utilise data to outpace the competition, while low-performing organisations underutilise data – resulting in poor decisions, slower operations, and wasting staff resources,” said Taylor Brown, Fivetran COO and co-founder. “By automating data movement out of, into and across cloud data platforms, the Fivetran platform enables every company to be data driven. We are setting the industry standard with options for all deployment types for secure, real-time, and high-volume data replication from SaaS applications and databases.”

Fivetran serves thousands of global customers, including Autodesk, Conagra Brands, JetBlue, Lionsgate, Morgan Stanley, and Ziff Davis.

Earlier this month, the company introduced Fivetran Lite connectors, which leverage the latest in generative AI and natural language processing technologies, enabling the development of connectors for virtually any SaaS application in less than 30 days. Backed by the same high level of data integrity and security customers expect from Fivetran, the company plans to introduce hundreds of new connectors in the next year, bringing the total number of fully-managed connectors to more than 500.

The introduction of Fivetran’s Metadata API in 2022 simplified data governance for enterprises by automating the tracking of data in-flight from source to destination as it moves through Fivetran-managed pipelines. The Fivetran Metadata API helps enterprises address compliance requirements, easily integrating into their existing privacy and security strategies while bolstering the value of investments they’ve made in data catalogues and data-quality solutions.

Fivetran also announced expanded partnerships in 2022:

• The company announced in June that it had extended its relationship with Snowflake, introducing a new Oracle connector capable of handling the highest volumes of data to Snowflake Data Cloud.
• In the same month, Fivetran announced it had expanded its partnership with Databricks with additional enhancements that make it faster, easier and more secure to unify a high volume of data on a single lakehouse.
• In October, Fivetran announced an extended integration with dbt Labs as a Metrics Ready Partner, helping Fivetran customers get value from their data faster. As a Metrics Ready Partner, Fivetran’s dbt packages enable building models for use in dbt projects.
• The company also announced in October an extended partnership and new product capabilities with Microsoft Azure. The added functionalities help joint customers accelerate their data-driven digital transformations and deliver a more seamless solution for automated data movement in the enterprise.

In September 2022, Fivetran announced upgrades to its partner referral programme along with the launch of new partner and reseller programmes. The expanded programme enables existing partners to grow their businesses even more, and supports Fivetran’s growth across Europe, the Middle East, Africa, Latin America, and the Asia-Pacific regions.

This was posted in Bdaily's Members' News section by P Adams .