Total amount raised
$13 Millions
Latest funding date
July, 2020
Location
Hevo Data has successfully raised funding from nine investors, including Qualgro VC and Peak XV Partners. The platform specializes in automating data replication from over 150 sources, offering a fully managed, no-code solution.
Keep reading to explore the intricacies of Hevo Data's fundraising journey and the investors backing this innovative platform.
What Is Hevo Data?
Hevo Data, founded in 2017 by Manish Jethani and Sourabh Agarwal, is based in San Francisco, California. The company specializes in providing an automated data pipeline platform that integrates data from over 150 sources. With a team of 251-500 employees, Hevo Data offers a fully managed, no-code solution for seamless data replication and transformation.
How Much Funding Has Hevo Data Raised?
- Series B
- Amount Raised: $30M
- Date: December 2021
- Lead Investors: Sequoia Capital India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale sales and marketing efforts, build new products, and expand teams in the US and Europe.
- Series A
- Amount Raised: $8M
- Date: July 2020
- Lead Investors: Qualgro VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand market reach.
- Seed Round (October 2019)
- Amount Raised: $4M
- Date: October 2019
- Lead Investors: Chiratae Ventures, Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and support initial market entry.
- Seed Round (November 2017)
- Amount Raised: $1M
- Date: November 2017
- Lead Investors: Chiratae Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the core technology and launch the platform.
Total Amount Raised: $43M. Current Valuation: Not publicly disclosed.
Key Investors
- Sequoia Capital India
- Details: Sequoia Capital India is a leading venture capital firm that invests in early and growth-stage companies across India and Southeast Asia. They have a strong track record of backing innovative startups and helping them scale globally.
- Investment Focus Areas: Technology, Consumer, Healthcare, Financial Services
- Notable Investments: Byju's, Zomato, OYO Rooms
- Qualgro VC
- Details: Qualgro VC is a venture capital firm based in Singapore, focusing on investments in data, artificial intelligence, and SaaS companies. They aim to support companies with regional or global growth potential.
- Investment Focus Areas: Data, Artificial Intelligence, SaaS
- Notable Investments: Appier, Patsnap, Hevo Data
- Chiratae Ventures
- Details: Chiratae Ventures, formerly known as IDG Ventures India, is a leading technology venture capital firm in India. They invest in early and growth-stage companies across various sectors.
- Investment Focus Areas: Technology, Consumer, Healthcare, Fintech
- Notable Investments: Myntra, FirstCry, Lenskart
- Lachy Groom
- Details: Lachy Groom is an angel investor and former executive at Stripe. He focuses on investing in early-stage technology startups with high growth potential.
- Investment Focus Areas: Technology, Fintech, SaaS
- Notable Investments: Figma, Notion, Rippling
- Surge
- Details: Surge is a rapid scale-up program by Sequoia Capital India, designed to supercharge early-stage startups. They provide funding, mentorship, and resources to help startups grow quickly.
- Investment Focus Areas: Technology, Consumer, Healthcare, Fintech
- Notable Investments: Khatabook, Doubtnut, Hevo Data
What's Next for Hevo Data?
Hevo Data stands at the cusp of significant growth opportunities, driven by the burgeoning data integration market projected to reach $17.1 billion by 2026. With plans to scale sales and marketing efforts, expand teams in the US and Europe, and launch new products like "Reverse ETL," the company is well-positioned to capitalize on the increasing demand for real-time data insights and no-code solutions.
Given their impressive 500% growth in the past year and strong investor confidence, future fundraising rounds seem likely. This momentum could attract further investment, enabling Hevo Data to enhance its product offerings and market reach. However, the company must navigate challenges such as intense competition, rapid technological advancements, and ensuring data security and compliance as it scales globally.
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