Hevo Data
Total amount raised
$13 Millions
Latest funding date
July, 2020
Hevo Data
Location
Title
Hevo Data has successfully raised $13 million over two funding rounds, positioning itself as a key player in the SaaS market.
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 by Manish Jethani and Sourabh Agrawal, is a company that provides a fully managed, no-code platform for automating data replication. The company was established to transform how businesses analyze their data, making it a competitive advantage.
With locations in San Francisco and Bengaluru, Hevo Data focuses on building the world’s most secure and scalable data platform as a service (PaaS). Their No Code Data Pipeline service allows users to integrate data from various sources into a data warehouse without writing any code.
Hevo Data employs between 201-500 people, emphasizing the importance of users being able to interact with data directly and efficiently. The platform supports high throughput data replication, compliance, and security, catering to the growing data needs of modern organizations.
How Much Funding Has Hevo Data Raised?
- Seed Round
- Amount Raised: $1,000,000
- Date: November 2017
- Lead Investors: IDG Ventures India
- Motivation Behind the Round: To hire more engineers and expand operations in the United States.
- Series A Round
- Amount Raised: $8,000,000
- Date: July 2020
- Lead Investors: Qualgro, Lachy Groom
- Motivation Behind the Round: To increase the number of integrations available on Hevo's platform and to hire sales and marketing teams in more countries.
Total Amount Raised: $9,000,000. Current Valuation: Not specified.
Key Investors
- Qualgro
- Details: Qualgro is a Singapore-based venture capital firm known for investing in high-growth technology companies. They have a strong presence in the Asia-Pacific region.
- Investment Focus Areas: Data analytics, enterprise software, technology.
- Notable Investments: Appier, Wavecell, Patsnap.
- Lachy Groom
- Details: Lachy Groom is a former executive at Stripe and an active angel investor. He has a keen interest in early-stage technology startups.
- Investment Focus Areas: Technology, fintech, SaaS.
- Notable Investments: Figma, Notion, Rippling.
- Chiratae Ventures
- Details: Chiratae Ventures is a venture capital firm that invests in early-stage startups across various sectors. They are based in India and have a diverse portfolio.
- Investment Focus Areas: Technology, healthcare, consumer media.
- Notable Investments: Myntra, Lenskart, CureFit.
- Sequoia Capital India’s Surge
- Details: Surge is an early-stage startup program by Sequoia Capital India, designed to accelerate the growth of startups in Southeast Asia and India.
- Investment Focus Areas: Early-stage technology startups, SaaS, consumer internet.
- Notable Investments: Khatabook, Doubtnut, Bulbul.
- IDG Ventures India
- Details: IDG Ventures India is a venture capital firm that focuses on investing in technology companies. They have a strong track record of supporting innovative startups.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Flipkart, FirstCry, Manthan.
What's Next for Hevo Data?
Hevo Data is poised to capitalize on the growing demand for no-code data integration solutions. With plans to expand its platform integrations and hire sales and marketing teams in the U.S. and Singapore, the company is well-positioned to serve sectors like e-commerce, healthcare, and finance. The market for real-time data integration is expanding, driven by the need for on-demand services and remote work capabilities.
Future fundraising opportunities seem promising, given the successful Series A round and the increasing market demand. However, Hevo Data will need to navigate challenges such as competition from established players like Fivetran and the continuous need for innovation to stay ahead. Attracting and retaining top talent will also be crucial as the company scales.
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