Fivetran plans to acquire HVR, the leader in enterprise database replication, and raises $565 million in Series D funding.
Today, we have great news for everyone building on the modern data stack: We have signed an agreement for Fivetran to acquire HVR. We'd like to share why we believe this is a great thing for our customers, employees and partners.
This acquisition coincides with our Series D fundraise of $565 million, led by Andreesen Horowitz with participation from existing investors including General Catalyst, Matrix Partners and CEAS, along with new investors D1 Capital Partners, Iconiq and YC Continuity. This acquisition would not have been possible without our world-class investors.
HVR has spent decades putting together the team and technology to solve the hardest data pipeline problem there is: replicating mission-critical database management systems for the world's largest enterprises. These systems contain the most valuable business data, but they're the hardest to interact with precisely because they are so mission-critical. HVR's technology can achieve a combination of light footprint, low latency and high throughput that can't be found anywhere else.
Meanwhile, Fivetran brings to the table a complementary set of expertise. Fivetran has spent years learning the intricacies of hundreds of SaaS tools used by modern businesses. We operate a managed service that hides the complexities of these tools from the user, and presents analysts with a simple, ready-to-query schema. As Fivetran has grown, we've learned the key requirements of operating a managed service that's used by large enterprises with rigorous security requirements. These learnings are embodied in our Business Critical product, which will be the key platform for offering HVR's technology as a managed service.
Fivetran's mission is to make access to data as simple and reliable as electricity. Bringing HVR's technology and team together with ours is a quantum leap in that mission. It will allow us to make access to data easy for every size of company and type of data source. When we made the decision to bring these companies together, we asked ourselves: what is the best thing for the customer? The answer is clear.