SaaS Startup Hevo Data secures $30 million from Sequoia Capital India & Others
Hevo Data, a software-as-a-service company, has secured $30 million in a Series B investment headed by Sequoia Capital India.
The round also includes Qualgro, Lachy Groom, Chiratae Ventures, and many angel investors, according to the startup.
Hevo Data, which provides an automated data pipeline platform, plans to use the funds to expand sales and marketing, double its focus on new product development, and hire more people in the United States and Europe, according to the company.
Hevo is a self-service tool for loading data into major cloud data warehouses like Snowflake, Google BigQuery, Amazon Redshift, and others.
Hevo, founded in 2017 by Manish Jethani and Sourabh Agarwal, lets businesses aggregate data from various sources and applications, such as sales CRM, advertising channels, marketing technology, financial system software, and customer care solutions. This allows businesses to obtain up-to-date, analysis-ready data into their warehouses and get a 360-degree perspective of their business and consumers.
It operates in the data integration market, which is expected to reach $17.1 billion by 2026, according to the business.
“Traditionally, companies needed to build a large engineering team to solve this problem. Our no-code approach provides an easy-to-use solution which eliminates technical complexities, eliminating data silos within the companies,” chief executive Jethani said. He also stated that the company is well-capitalized.
“Given the large market opportunity and the high growth momentum - growing 500% in the past year, we received strong interest from the market and thus, decided to partner with Sequoia Capital India for our Series B,” he added. Hevo has consumers in more than 40 countries right now.
It has more than fivefold increased its consumer base in the last year.
“Data has become one of the most important business inputs in the last decade. Hevo Data is building foundational infrastructure to enable bi-directional mobility of data. The more mobile data becomes within organizations, the more useful it shall be,” says Tejeshwi Sharma, managing director, Sequoia India.
The round also includes Qualgro, Lachy Groom, Chiratae Ventures, and many angel investors, according to the startup.
Hevo Data, which provides an automated data pipeline platform, plans to use the funds to expand sales and marketing, double its focus on new product development, and hire more people in the United States and Europe, according to the company.
Hevo is a self-service tool for loading data into major cloud data warehouses like Snowflake, Google BigQuery, Amazon Redshift, and others.
Hevo, founded in 2017 by Manish Jethani and Sourabh Agarwal, lets businesses aggregate data from various sources and applications, such as sales CRM, advertising channels, marketing technology, financial system software, and customer care solutions. This allows businesses to obtain up-to-date, analysis-ready data into their warehouses and get a 360-degree perspective of their business and consumers.
It operates in the data integration market, which is expected to reach $17.1 billion by 2026, according to the business.
“Traditionally, companies needed to build a large engineering team to solve this problem. Our no-code approach provides an easy-to-use solution which eliminates technical complexities, eliminating data silos within the companies,” chief executive Jethani said. He also stated that the company is well-capitalized.
“Given the large market opportunity and the high growth momentum - growing 500% in the past year, we received strong interest from the market and thus, decided to partner with Sequoia Capital India for our Series B,” he added. Hevo has consumers in more than 40 countries right now.
It has more than fivefold increased its consumer base in the last year.
“Data has become one of the most important business inputs in the last decade. Hevo Data is building foundational infrastructure to enable bi-directional mobility of data. The more mobile data becomes within organizations, the more useful it shall be,” says Tejeshwi Sharma, managing director, Sequoia India.
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