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Fivetran

Oakland, California, United States Software & Data Private

Fivetran is an automated data movement platform that extracts, loads and transforms data across cloud data platforms, with connectors from hundreds of sources into cloud warehouses and lakehouses and self-healing pipelines. Since completing an all-stock merger with dbt Labs on 1 June 2026 the company operates as Fivetran + dbt Labs and also owns dbt, the open-source analytics-engineering and transformation framework, including the dbt Fusion engine. The combined platform serves more than 100,000 data teams across analytics, data engineering and AI workloads, including OpenAI, HubSpot, DocuSign, Pfizer and Siemens.

Overview

Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Founded

2012

Employees

1,001–5,000

Total Funding

$849.74M

6 rounds

Latest Valuation

$5.6B

Sep 20, 2021

Secondary Signals

2 signals
M&A Recent 2026-06-01

Completed all-stock merger with dbt Labs, forming combined 'Fivetran + dbt Labs' data infrastructure company

Consolidation likely to reshape cap table and eventual IPO path; watch for revised entity/financials

Secondary Pricing Recent valuation $5.87B (secondary mark, no amount raised) 2026-05-12

Hiive-sourced secondary mark valued Fivetran at $5.87B on 2026-05-12, ~5% above the 2021 Series D mark

Modest uptick in secondary pricing since the 2021 Series D, ahead of the dbt merger

Funding

Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Total raised $849.74M across 6 rounds

Last updated 08-28-2026

DateRoundAmount RaisedValuationLead Investors
May 18, 2023 Debt $125M Vista Credit Partners
Sep 20, 2021 Series D Bloomberg $565M $5.6B Andreessen Horowitz, ICONIQ Capital
Jun 30, 2020 Series C TechCrunch $100M $1.2B Andreessen Horowitz, General Catalyst

Valuation Trajectory

Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

$1B $2B $5B 2021 Fivetran

Entry · Series C

$1.2B

Jun 2020

Fivetran today

$5.6B

Sep 2021 · latest mark

Fivetran multiple

4.7x

valuation uplift since first round

Y-axis is logarithmic. Hollow dots = estimated valuations. Does not represent realized investor returns.

Prominent Investors

Andreessen Horowitz General Catalyst CEAS Investments Matrix Partners ICONIQ Capital YC Continuity D1 Capital Partners

Leadership

  • George Fraser

    CEO and Co-Founder

  • Tristan Handy

    President and Co-Founder

  • Taylor Brown

    COO and Co-Founder

    LinkedIn

Competitors

Competitor list is illustrative and may be incomplete, stale, or erroneous.

  • Informatica

    Enterprise data integration platform with on-premises roots, offering cloud data integration tools but lacking transparent pricing compared to cloud-native competitors.

  • Talend

    Data integration suite offering ETL, data quality, and governance capabilities. Now owned by Qlik (acquired May 2023). Known for enterprise governance features.

  • Stitch

    Cloud-based ELT platform with 130+ connectors. Owned by Talend since November 2018. Offers cost-effective alternative to Fivetran.

  • Airbyte

    Open-source data integration platform providing ELT capabilities with customizable connectors and self-hosted options.

  • Matillion

    Cloud-native ELT platform focused on cloud data warehouse optimization and transformation.

Fivetran Investment FAQ

Public status and buying access

No. Fivetran 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 Fivetran 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 Fivetran will complete an IPO or other liquidity event.

Yes, it is sometimes possible to buy Fivetran 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 Fivetran 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 $5.6B as of Sep 20, 2021. 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.

Valuation and funding

Fivetran was most recently valued at approximately $5.6B as of Sep 20, 2021. 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.

Fivetran's valuation has changed over time based on funding rounds, tender offers, secondary-market indications, and other reported or collected valuation marks. Fivetran's valuation moved from approximately $1.2B as of Jun 30, 2020 to approximately $5.6B as of Sep 20, 2021. 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.

Fivetran's latest disclosed funding round was a Debt round in May 18, 2023. The round raised approximately $125M, with Vista Credit Partners 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.

Fivetran has raised approximately $849.74M in disclosed funding across 6 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 Fivetran's funding history alongside private-market activity where available.

Fivetran's disclosed investors include Andreessen Horowitz, General Catalyst, CEAS Investments, Matrix Partners, ICONIQ Capital and YC Continuity. 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 Fivetran's funding history, valuation history, and private-market activity alongside other venture-backed companies.

Market context

Fivetran's most-cited competitors include Informatica, Talend, Stitch, Airbyte and Matillion. Investors often compare these companies by sector, product focus, valuation, funding raised, growth signals, investor base, and private-market activity.

Secondary-market demand for Fivetran 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.

Selling and transaction mechanics

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 Fivetran 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 Fivetran 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 Fivetran through a share transfer notice or similar process. If Fivetran 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.

Risk, diligence, and investor caution

Buying Fivetran 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 Fivetran 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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