Dbt Labs Raises $222 Million at $4.2 Billion Valuation

Dbt Labs is an analytics start-up whose mission is to assists analytics in the dissemination and creation of organizational knowledge. Dbt Labs provides its clients with an engineering tool that prepares raw data in the warehouse for analysis.

The funding round was led by Altimeter. Among other investors were existing Amplify Partners, Andreessen Horowitz, and Sequoia Capital. New investors also took part in the round – Databricks, Snowflake, Salesforce Ventures, Coatue Management, GIC, Iconiq, and Tiger Global Management. With the funding raised, Dbt Labs is going to scale up and meet the demand, especially outside North America.

Dbt Labs, the USA, Philadelphia, was founded by Connor McArthur, Drew Banin, and Tristan Handy in 2016. Dbt Labs was started as a small software consultancy, however, later the team developed its own internal “data build tool”, or “dbt” for the efficiency increase. This tool was created as an open-source. As of now, more than 9000 companies use it, and 1800 – paying customers. By the end of 2022, the company plans to increase the number of employees up to 250. “At the end of the day, this is a very long journey that we are on, and I think the headline [valuation] number is going to feel very small in another three years,” Tristan Handy, CEO.

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