SAN FRANCISCO, Nov. 17, 2021 /PRNewswire/ -- Hightouch, a
fast-growing software company that pioneered the concept of Reverse
ETL, today announced it has raised $40
million in Series B financing at a $450M valuation led by ICONIQ Growth (early
backers of Snowflake) with participation from Amplify, Bain, YC,
and Afore, increasing its total funding to $54.2 million. Angel investors joining this round
include: Barr Moses (founder of
Monte Carlo), Gene Lee (founder of Ramp), Maxime Beauchemin (the original creator of
Airflow), and Alex Pall (The
Chainsmokers).
This comes just months after announcing their Series A due to
rapid customer acquisition, a new product (Hightouch
Audiences), and the tailwinds of companies adopting cloud data
warehouses and the modern data stack.
The growth of the market and stellar customer interviews led
investors to pre-empt the company's Series B. Since the Series A
announcement, Hightouch has increased revenue by more than twofold
and grown the team from four employees at the beginning of the year
to thirty today.
Hightouch has hundreds of customers, including Fortune 500
companies. This year, Hightouch has partnered with B2C brands like
Betterment, EyeByeDirect, Imperfect Foods, Autotrader, and Nando's,
as well as B2B companies like Plaid, Ramp, CircleCI, Lucidchart,
and SurveyMonkey.
"Our vision is to make data accessible and useful to everyone
within a company," said Kashish Gupta, co-founder of Hightouch.
"This new round of funding allows us to invest heavily in our
product to add features that data engineers love, as well as UIs
that make Hightouch accessible to different verticals of business
users, starting with marketers and expanding into sales, customer
success, and support."
Every business team - sales, marketing, support, success - needs
customer data in the software they use to talk to customers, like
CRMs, email tools, ad tools, and billing tools. Hightouch is the
easiest way to sync that data between systems without engineering
help.
Between the Series A and now, Hightouch overhauled their core
product to make it enterprise ready by adding access
control, SSO, version control, and the ability to handle the
throughput of millions of rows of data that their Fortune 500
customers send every day.
Hightouch has also partnered with Snowflake, solidifying
a foothold as the go-to product for data activation from the data
warehouse. They have also developed key partnerships with companies
like Amplitude and Outreach that have endorsed Hightouch as the de
facto way to transfer data into their applications, either for
initial implementation or enhancement of customer data. These are
in addition to existing partnerships with modern data stack leaders
like dbt, Fivetran, and Snowplow.
In the past few months, Hightouch released their second product,
Hightouch Audiences, which lets anyone define
what data they need in their tools, regardless of whether
they know SQL or not. With Hightouch Audiences, marketers can
self-serve data for their campaigns. Public companies like
Autotrader, the largest car marketplace in the UK, use Audiences to
send data to ad networks and email tools for hyper-personalization,
faster experimentation, and increased customer conversion.
"We have so much valuable data in our data warehouse. Before
using Hightouch, getting that data into other tools was painful and
time-consuming. With Hightouch, we can put data to use so quickly
and easily," said Tim Jenkins,
senior director of strategy and analytics at Lucidchart. "Hightouch
has opened up all kinds of use cases, such as sending real-time
notifications of new opportunities to Slack, sending custom
audience lists to ad platforms such as Adwords and Bing to enable
targeted advertising, and sending product activity data into
Marketo for personalized email campaigns—and we're just scratching
the surface!"
As pioneers of the Reverse ETL space, Hightouch will use their
latest round of funding to double-down on their investment in
product and engineering. The money will be used to expand the
surface area of who the product serves, and further improve the
core developer experience. Their goal is to build out a sizable
team that is capable of delivering Hightouch to as many companies
as possible.
About Hightouch
Founded by early employees of Segment, Hightouch is the world's
leading Reverse ETL platform, which syncs data from data warehouses
to various SaaS tools. Hightouch was founded on the notion that
every business team—sales, marketing, support, success—needs
relevant, accurate, and real-time customer data in the software
they use to talk to customers including CRM, email, and support
platforms. With data warehouses as the hub for customer data,
Hightouch has pioneered the concept of reverse ETL, which is the
easiest way to get data out of data warehouses and into those
customer-facing operational systems. Hightouch is based in
San Francisco and backed by
leading investors such as ICONIQ Growth, Amplify Partners, Bain
Capital Ventures, Y-Combinator, and Afore Capital. For more
information, visit www.hightouch.io.
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SOURCE Hightouch