Matillion recently closed a $150 million round of funding at a $1.5 billion valuation, while Dbt Labs secured $150 million in funding, also at a $1.5 billion valuation. It’s a been a busy year in the broader data integration space. “Hightouch gives everyone access to data in their tools without having to rely on any code or engineers.” “Everyone needs access to data, but to get that valuable data you have to rely on your engineering team,” Gupta said. The user can then set a synchronization frequency so that the destination is automatically kept up-to-date. Hightouch counts dozens of integrations out-the-box, spanning most of the common warehouse sources such as BigQuery, Snowflake, and Databricks, and common enterprise applications including Anaplan, HubSpot, Mixpanel, Salesforce, Stripe, and Jira. “Warehouses have also gotten much faster, so it is practical to use them to power timely business workflows.” “There has been a key technology shift with the adoption of data warehouses - modern cloud data warehouses like Snowflake have very cheap storage, and you don’t need to pay for computing resources unless you’re actually running a query,” Gupta explained. So if a company wants to shift data from Zendesk into Salesforce to figure out how much support specific customers are requesting through Zendesk, they would use an ETL tools such as Fivetran to move the data into the warehouse, and then use Hightouch to get that data into Salesforce. Reverse ETL, essentially, involves “copy and pasting” data between tables. Hightouch does the opposite of this - it helps companies get their data out of the warehouse and into an application in a process it refers to as “reverse ETL.” Other notable players in the space include Census, which recently closed a $16 million investment. That allows a sales team that uses countless SaaS applications spanning product analytics, marketing, customer support, and CRM tools to pool their data to uncover purchasing trends, for example. The modern data technology stack includes data ingestion tools such as Fivetran, a company that recently raised $565 million at a $5.6 billion valuation to enable companies to “extract, transform, and load” (ETL) their data from sources (e.g., databases or SaaS apps) and into their data warehouse (e.g., Snowflake or BigQuery). “The data warehouse is the only place where this is possible.” Data in motion “Since companies are using so many different SaaS tools nowadays, there is a stronger need for a central place to combine sales, marketing, and product data from these tools to get that fabled 360 view of a customer,” Hightouch cofounder Kashish Gupta told VentureBeat. And this is why a swathe of new tools and technologies have emerged to help combine disparate data pools to unlock valuable insights. Data integration platform Hightouch has raised $40 million in a series B round of funding led by Iconiq Growth, a venture capital firm with a notable roster of enterprise companies in its portfolio, including Zoom, Datadog, Snowflake, and GitLab.Ĭompanies are drowning under a deluge of data, with enterprises using 288 different SaaS apps on average - each representing a potential data silo.
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