
dbt Labs (formerly Fishtown Analytics) is the company behind dbt (data build tool), an open-source framework and cloud platform for analytics engineering that lets data teams transform, test, document, and deploy data inside their cloud data warehouses using software engineering best practices. Its products include dbt Core (open source) and dbt Cloud (commercial), serving thousands of organizations and a large open-source community of data practitioners.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2016
Employees
900–1,015
Total Funding
$414.4M
4 rounds
Latest Valuation
$4.2B
February 24, 2022
Total raised $414.4M across 4 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 05-29-2026
Latest Round
Type
Series D
Date
February 24, 2022
Amount
$222M
Valuation
$4.2B
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| February 24, 2022 | Series D | $222M | $4.2B | Altimeter Capital |
| June 29, 2021 | Series C | $150M | $1.5B | Altimeter Capital |
| November 30, 2020 | Series B | $29.5M | $2.2B | Sequoia Capital |
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Valuation indexed to 1.0× at the selected entry round. Valuation marks are estimates and may contain errors. Hover each dot to compare.
Entry · Series A
$1.1B
Apr 2020
Dbt Labs today
$4.2B
Feb 2022 · latest mark
Dbt Labs multiple
3.8x
valuation uplift since first round
Y-axis is logarithmic. Hollow dots = estimated valuations. Does not represent realized investor returns.
Tristan Handy
CEO & Founder
Connor McArthur
Co-Founder & CTO
Drew Banin
Co-Founder
Sarah Riley
Chief Financial Officer
Seth Zelnick
General Counsel
Meg Pittman
Chief People Officer
Tristan Handy
Founder & CEO
Drew Banin
Co-Founder
Connor McArthur
Co-Founder & CTO
Sarah Riley
Chief Financial Officer
Meg Pittman
Chief People Officer
Seth Zelnick
General Counsel
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Coalesce
Visual, column-aware data transformation platform with metadata-driven approach for building reusable templates
Looker
Business intelligence platform with LookML modeling layer for data governance and embedded analytics
Tableau
Visual analytics platform owned by Salesforce focused on interactive data visualization
Power BI
Microsoft business analytics tool for data visualization, preparation, and insight sharing
Alteryx
Business analytics platform for data preparation with limited cloud-native transformation capabilities
Prophecy
Data engineering platform with visual IDE for cloud-native transformation workloads
No. Dbt Labs is a private company and does not have a public stock ticker or trade on a public stock exchange. Its shares are generally held by founders, employees, investors, and other private shareholders. Buyers and sellers may be able to transact in Dbt Labs shares through private secondary transactions, but any transaction depends on share availability, buyer and seller agreement, transfer restrictions, company approval rights, and any applicable right of first refusal. There is no guarantee that Dbt Labs will complete an IPO or other liquidity event.
Yes, it is sometimes possible to buy Dbt Labs shares pre-IPO through private secondary transactions. This depends on finding a willing seller, company approval, and satisfying any transfer restrictions or rights of first refusal.
Buyers interested in buying Dbt Labs shares on the secondary market typically do so through SetterVC and other secondary-market platforms, subject to eligibility requirements, share availability, transfer restrictions, and issuer approval. Buyers may need to satisfy sophistication, accreditation, institutional, platform, regulatory, or other eligibility requirements before participating. Once eligible, buyers may be able to view listings, make bids, and work with a licensed broker through the transaction process. Buyers should ensure they have appropriate legal and financial advisors guiding them before completing any transaction.
The company's latest round valuation was approximately $4.2B as of February 24, 2022. The latest round valuation is often used as one reference point in secondary-market pricing, but secondary prices may be above or below that valuation at any given time. Secondary pricing can shift significantly based on post-round conditions, such as changes in company performance, supply-demand dynamics, share class, transaction size, transfer restrictions, or broader market shifts. Any implied valuation from a past round should be confirmed with a broker or through live market listings before relying on it.
Dbt Labs was most recently valued at approximately $4.2B as of February 24, 2022. This is a private valuation and may differ from secondary pricing. Secondary shares may trade above or below this mark based on various factors. SetterVC and Setter Capital does not verify the accuracy of these valuations. Buyers and sellers should always confirm current valuations before completing any transaction.
Dbt Labs's valuation has changed over time based on funding rounds, tender offers, secondary-market indications, and other reported or collected valuation marks. Dbt Labs's valuation moved from approximately $1.1B as of April 15, 2020 to approximately $4.2B as of February 24, 2022. This comparison reflects company-level valuation marks and does not represent realized investor returns. Secondary-market prices may differ from these valuations based on share class, transaction size, transfer restrictions, supply and demand, company performance, and broader market conditions. SetterVC and Setter Capital does not verify the accuracy or completeness of valuation data, and buyers and sellers should confirm current information before relying on it.
Dbt Labs's latest disclosed funding round was a Series D round in February 24, 2022. The round raised approximately $222M at an approximately $4.2B valuation, with Altimeter Capital listed as disclosed lead or major investors. Primary funding rounds are different from secondary transactions: in a primary round, capital goes to the company, while in a secondary transaction, investors buy existing shares from current shareholders. Funding-round data reflects publicly reported or collected information and may be incomplete. The latest round valuation should be confirmed before it is used as a pricing reference.
Dbt Labs has raised approximately $414.4M in disclosed funding across 4 rounds. These figures reflect primary capital raised by the company and do not include every possible secondary transaction, undisclosed round, debt facility, or private transfer. Reported funding totals can change as new rounds are announced or older round details are corrected. Eligible users can use SetterVC to track Dbt Labs's funding history alongside private-market activity where available.
Dbt Labs's disclosed investors include Altimeter Capital, Amplify Partners, Andreessen Horowitz, Sequoia Capital, Coatue and Tiger Global Management. Investor lists are based on public reporting, company announcements, and collected funding-round data, and may be incomplete. Participation in a prior funding round does not mean those investors are currently buying or selling shares. On SetterVC, eligible users can review Dbt Labs's funding history, valuation history, and private-market activity alongside other venture-backed companies.
Dbt Labs's most-cited competitors include Coalesce, Looker, Tableau, Power BI, Alteryx and Prophecy. Investors often compare these companies by sector, product focus, valuation, funding raised, growth signals, investor base, and private-market activity.
Secondary-market demand for Dbt Labs shares can be affected by company performance, revenue growth, profitability, funding history, valuation, investor interest, sector momentum, public-market conditions, expected timing of a liquidity event, and the availability of shares for sale. Demand can also be affected by transfer restrictions, company approval rights, right of first refusal processes, limited information, and the price expectations of buyers and sellers. Strong demand does not guarantee strong pricing, liquidity, or investment returns. Weak demand does not necessarily reflect the company's long-term prospects. Demand signals should not be treated as a recommendation or prediction of investment performance. Buyers and sellers should treat demand signals as informational and conduct their own diligence before transacting.
Sellers often rely on intermediaries and platforms, such as SetterVC and other secondary-market platforms, to identify potential buyers. The exact process varies by company and transaction, but sellers often begin by confirming their ownership, desired price, transferability, and any company approval or notice requirements. If the seller agrees with a buyer on acceptable price and terms, the company may need to be notified through a share transfer notice or similar process. If a right of first refusal, company approval right, or other transfer restriction applies, the seller may need to wait until that process is completed. The parties may then execute a purchase and sale agreement, complete required transfer documentation, and close if all required conditions are satisfied. Sellers should always seek proper legal and financial advice before completing the transaction.
Yes, current and former Dbt Labs employees, early investors, and other existing shareholders may be able to sell vested shares before an IPO through a private secondary sale. This is not automatic; it depends on whether the shareholder has transferable shares, whether there is buyer demand, and whether the company's governing documents permit the transfer. Many companies require prior notice, company approval, or a right of first refusal before shares can be sold. Sellers should also seek proper legal and financial advice before proceeding.
A Dbt Labs secondary transaction usually involves an existing shareholder selling shares to a buyer before a public listing. The buyer and seller typically agree on price, number of shares, share class, and closing conditions. The seller may then need to notify Dbt Labs through a share transfer notice or similar process. If Dbt Labs or existing investors have approval rights, transfer restrictions, or a right of first refusal, those steps may need to be completed before the transfer can close. The parties typically enter into a purchase and sale agreement, complete any required transfer documentation, and close only if the necessary conditions are satisfied. Timing and certainty can vary by company and transaction.
In most private secondary transactions, parties commonly use a purchase and sale agreement that outlines price, terms, and conditions. They may also use share transfer documentation, often a stock transfer notice, share transfer notice, transfer instruction, or similar document, along with any required company approval or right of first refusal materials. Proof of ownership, such as a cap table entry, share certificate, brokerage statement, issuer confirmation, or administrator confirmation, may also be important. Buyers often request recent company financials, but private companies may limit disclosure. Since every deal varies, buyers and sellers should consult legal and financial advisors to understand which documents are needed.
Buying Dbt Labs shares pre-IPO is risky. Shares are illiquid, no IPO or liquidity event is guaranteed, valuations can change, transfers may require company approval, and private companies may provide limited financial disclosure. Be prepared for total loss. SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, verify information, and seek independent legal and investment advice before proceeding.
Private secondary shares are typically illiquid. Unlike public stocks, there is no active public market, so selling them can be difficult and time-consuming. Sales depend on finding a willing buyer and often require company approval. Investors should be prepared to hold the shares for an extended period, with no guarantee of a future sale. Always assess your need for liquidity before investing.
SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, including verifying ownership, transferability, legal structure, company approval, and assessing the company's prospects. SetterVC and Setter Capital do not provide advice on whether an investment is good, what price to pay, or what the best bid or ask is. SetterVC and Setter Capital may share documents in some circumstances, but it does not guarantee their accuracy or completeness. Due diligence is essential. Seek legal and investment advice as needed.
Before buying Dbt Labs shares, a buyer should try to review the share class, price per share, implied valuation, transfer restrictions, ROFR process, company approval rights, seller ownership evidence, recent financing or tender-offer information, available financial information, information rights, resale restrictions, tax considerations, and expected liquidity paths. Not all information may be available for a private company. Buyers should confirm available diligence, process details, and information needs with their own legal, tax, and investment advisers.
SPVs carry risks. Examples include the need to confirm the company allows SPV-based transfers, verify that the SPV truly owns the shares or interests it claims to own, and ensure it has not sold more interests than it holds. Due diligence is essential. Seek legal and investment advice as needed.
Forward contracts carry risks. Examples include the seller refusing to transfer the shares at the future date, even if the seller owns them, the seller going bankrupt with creditors claiming the shares, or the seller committing the same shares to multiple parties. Due diligence is essential. Seek legal and investment advice as needed.
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