Hevo Data, a SaaS Startup that offers an Automated Data Pipeline Platform, has raised $30 million in a Series B round. Sequoia Capital India led the round with participation from Qualgro, Lachy Groom, Chiratae Ventures, and several marquee angel investors. The company plans to use the funds raised to scale Sales and Marketing efforts, double the focus on building new products, and build teams in the US and Europe.
Today, every company is becoming a digital business, and data is the most critical component to truly understand the pulse of their business and customers. However, data is siloed across multiple systems and teams within the company. These Data Silos prevent companies from making the right decisions at a faster pace – much-needed in today’s competitive world where companies want to be able to evolve quickly to win and retain customers.
No-code, Data Pipeline platform, Hevo Data solves this within minutes. Founded by Manish Jethani and Sourabh Agarwal in 2017, Hevo is an Automated Self-serve platform that loads data in a fast and reliable manner from any source into popular Cloud Data-warehouses such as Snowflake, Google BigQuery, Amazon Redshift, Firebolt and others. Hevo helps companies combine data from multiple disparate sources and applications including Sales CRM, Advertising Channels, Marketing Tech, Financial System software, and Customer Support Products to enable companies to get up-to-date, analysis-ready data in their warehouse and build a 360-degree view of their business and customers.
Hevo operates in the Data Integration Market, which is estimated to reach US$17.1 billion by 2026.
“Our mission is to enable every company and every individual to unlock their true potential by leveraging data-driven decision-making. Traditionally, companies needed to build a large engineering team to solve this problem. Our no-code approach provides an easy to use solution which eliminates technical complexities, eliminating data silos within the companies”, Manish Jethani, co-founder & CEO, Hevo Data. “We are very well-capitalized but given the large market opportunity and the high growth momentum – growing 500% in the past year, we received strong interest from the market and thus, decided to partner with Sequoia Capital India for our Series B,” he adds.
Hevo has also attracted several accomplished Angel investors who have experience building companies from start-up to IPO, including Ashey Smith, former Gitlab Chief Marketing Officer, and Amit Agarwal, Chief Product Officer at DataDog.
Hevo supports 100+ Pre-built integrations across Databases, SaaS Applications, Cloud Storage, SDKs, and Streaming Services. It is so simple that even non-technical users can use Hevo. And, that’s what its customers echo –
“We haven’t needed our engineering team’s support in months! They can now focus on improving the product and spend less time on data engineering. The analytics team now builds scalable and sustainable solutions instead of running ad-hoc analyses. We now get answers to all our questions in a few minutes compared to days or even weeks in the past. It’s user-friendly, not too technical, and our analytics team can use it with ease. Decision-making is now much easier, faster, and reliable!” Adrien Long, Head of Analytics & Automation at FlexClub which was able to reduce the time taken to get answers to analytics questions by 160X with Hevo.
Hevo currently has customers across 40+ countries in the United States, Europe, and APAC Regions. In the last year, it has grown its customer base by 5X. Hevo plans to build more product capability by adding new integrations to enable customers to connect more data sources and build a single source of truth for their business.
“Data has become one of the most important business inputs in the last decade. Hevo Data is building foundational infrastructure to enable bi-directional mobility of data. The more mobile data becomes within organizations, the more useful it shall be. We are impressed by the product DNA of the company – the secret behind the widely loved product combines the duality of technical sophistication and consumer-grade experience. Sequoia Capital India is delighted to double down on the partnership with Hevo and lead the Series B round.” Tejeshwi Sharma, MD, Sequoia India.
Hevo also plans to launch its second product early next year – “Reverse ETL”. The new capability will help its customers to use their data beyond just the analytics use case. The Reverse ETL capability will help companies leverage their data to make real-time decisions in day-to-day operations.
About Hevo Data:
Hevo is a leading No-code Data Integration platform for organizations with growing data needs. Hevo helps data teams effortlessly automate the process of collecting data from multiple Applications and Databases, loading it to a Data Warehouse, and making it analytics-ready in minutes.