Airbyte, a San Francisco-based open-source data consolidation startup integrating and connecting various data formats, has raised US$ 150 million in a Series B funding round co-led by Coatue and Altimeter Capital on 17 December 2021.
Investors: The latest investment round featured Altimeter Capital and Coatue as the lead investor with participation from Salesforce Ventures, Thrive Capital, SV Angel, Benchmark and Accel. The startup has managed to raise US$ 181.2 million, in total, to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards meeting its rising consumer demand and expanding its operations.
About Airbyte
Brought to existence in 2020 by John Lafleur and Michel Tricot, Airbyte is an open-source data consolidation platform operating in the safety of a business’ cloud and unifying data from APIs, databases and applications to data lakes, warehouses and other ends. With a rising community of 200 contributors and 4,500 data practitioners, Airbyte is reinventing the new standard to unify and move data from several sources to data warehouses through a system known as ELT (extract, load, and transform). In the previous year, over 9,000 corporations have harmonised data through Airbyte from sources that include Salesforce, Stripe, Facebook Ads, PostgreSQL, MySQL, Facebook Ads and links to destinations such as BigQuery, Redshift, Snowflake and Databricks.
What the Founder has to say: “The advent of the advanced data warehouses has propelled our vision to fuel all the enterprises’ data movement and does not stop at ELT. At the end of 2022, we envisage covering more formats of data movement, including streaming ingestion and reverse-ETL.”- Michel Tricot, Co-Founder and CEO of Airbyte.
What the Investors have to say: “It is exhilarating to join hands with Airbyte in their latest funding round. After investing a great deal of time concentrating on several data stack businesses, we were most dazzled by the proficiency of Airbyte’s team and developer prominence.”- Caryn Marooney, General Partner at Coatue. “Airbyte has successfully created a meaningful impact in a short period of time and has over 1,000 firms in its customer base to leverage its Airbyte Cloud data offering that is beginning to emerge. There is a remarkable market momentum in support of Airbyte’s disruptive paradigm to engage its users in developing the ecosystem surrounding its data consolidation interface.”- Jamin Ball, Partner at Altimeter Capital.
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