dbt Labs Does It Again
Raised $222M to Fund Growth and the Next Layer of the Modern Data Stack
“The dbt Labs team continues to lead a terrific open-source, community-driven approach that fills a must-have requirement in the modern data stack. They’ve been exceptional to partner with since the early days and I’m looking forward to seeing them continue to deliver for the growing demand and also stretch for the newest initiatives like a real-time dbt compilation layer. This latest round is further testament to them getting it right both technically and commercially — congrats!”
— Kelly Kohlleffel, VP GTM, Hashmap, an NTT DATA Company
We are so excited for dbt Labs as they recently announced their latest round of funding. On Thursday, February 24th, 2022, the team announced that they have raised $222M at a $4.2B valuation. They plan to use this funding to continue investing in building the next layer in the modern data stack. There are currently over 9,000 companies using dbt as their data transformation tool. It is quickly becoming a standard in the modern data stack. Over the last year, they have tripled their customer count, quadrupled the number of employees, and currently have over 26,000 data professionals in their Slack community. They have grown incredibly fast over the short six-year period since founding the company.
“I want to take a second to reflect back on the journey. The ideas that became dbt were initially bouncing around in my head six years ago. Six years! We have come a long way as a community and as an industry and I am genuinely, heart-swellingly proud of what we have accomplished together ❤️ .”
— Tristan Handy, Founder & CEO at dbt Labs
For those that don’t know, dbt is a powerful data transformation and analytics engineering solution. It allows teams to deploy analytics code quickly and collaboratively. dbt makes it simple to build production-grade data pipelines for anyone that knows SQL and transform data where it lives. There are many great resources to learn from including a dbt Fundamentals online class and the project has a massive and active Slack community. dbt is a critical component of data engineering in a modern data stack.
“Before starting a company or even having a goal to create a company, decide that you want to start a community first.”
— Tristan Handy, Founder & CEO at dbt Labs
As a technology partner, we have had the pleasure of working closely with dbt Labs since 2019 and watched their spectacular growth. They have become an important part of so many of our conversations around the modern data stack. We put together some of these conversations and resources so you can see for yourself why the latest round of investors valued dbt Labs at $4.2B.
Hashmap Resources on dbt
Blog Posts
Podcast Episodes
Keep up with dbt Labs and everything they are doing through their blog:
Join dbt Lab’s incredible Slack community:
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If you want to start your own journey to a modern data stack with business-critical tools like dbt, connect with us and let’s start a conversation on how and where these tools can provide value.
At Hashmap, an NTT DATA Company, we work with our clients to build better, together. We are partnering with companies across a diverse range of industries to solve the toughest data challenges and design and build data products — we can help you shorten time to value!
We offer a range of enablement workshops and assessment services, data modernization and migration services, and consulting service packages for building new data products as part of our service offerings. We would be glad to work through your specific requirements. Connect with us here.
