As we continue to expand globally, we're proud to make our debut in this highly respected industry analyst report.
Today, we’re proud to share that Fivetran has been recognized in the August 2020 Gartner Magic Quadrant for Data Integration Tools for the first time. The data integration market is rapidly evolving and expanding as organizations increasingly understand the value of analytics and the importance of data-backed decisions in driving business success.
In a June 2020 survey, Dimensional Research found that 98% of companies are using business intelligence today, and that 71% of companies plan to hire more data analysts over the next 12 months. And the trend will only grow when you consider the rapid adoption of digital transformation across organizations.
Not only is the value of data analytics increasing over time, it’s even more valuable in times of uncertainty such as the COVID-19 pandemic. As Gartner noted in the Magic Quadrant for Data Integration Tools, “Throughout the COVID-19 pandemic, we have witnessed a huge surge in data-integration-related inquiries, primarily focused on data migration to the cloud.”
The growth of Fivetran mirrors the overall growth of the data integration industry. In our opinion, recognition in this analyst report is yet another milestone during a remarkable period of global expansion for our company.
In June 2020, we achieved unicorn status with our Series C funding of $100 million. Within the past 12 months, new customer growth has increased by more than 75%. Our total customer base now stands at more than 1,300 companies, including global brands such as BJ’s Restaurants, ClassPass, Conagra Brands, Databricks, DocuSign, Forever 21, Lime, Square, Udacity and Urban Outfitters.
Even during this period of economic uncertainty, customers increasingly see the value in adopting our automated data integration service in place of building and maintaining costly in-house pipelines. From August 2019 to August 2020, the increase in data usage by our current customers is up by 96%, and the increase in connectors is up 109%. This validates what we hear all the time — Fivetran is easy to use and it just works.
According to Gartner, the data integration market is seeing "renewed momentum driven by urgent requirements for hybrid/multicloud data management, augmented data integration and data fabric designs. This assessment of 20 vendors will help data and analytics leaders choose a best fit for their data integration needs.”
As the only data pipeline with the proper architecture for large enterprises moving to the cloud, Fivetran has partnered with advanced data warehouses like BigQuery, Snowflake and Redshift, helping to make the resource-intensive struggle to build and maintain data connectors for each individual data source a thing of the past. As organizations of all sizes race to become data-driven, Fivetran is perfectly positioned to serve them.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.