- The company expects to triple the size of our engineering team over the next year
- Now, dbt has become the leading tool used by analysts and engineers to transform, test, and document data in-warehouse
Fishtown Analytics has announced that it has raised $12.9 million in Series A financing to accelerate the product development of open source analytics engineering tool dbt. The round was led by Andreessen Horowitz and a16z general partner Martin Casado will join Fishtown Analytics’ board.
Martin Casado, general partner at Andreessen Horowitz said, “We believe we’re experiencing one of the biggest shifts in the history of compute right now—the modern data stack is at least a $100B opportunity. Dbt has the opportunity to become the connective tissue that maps the data flows through this entire stack, and we’re incredibly excited to be a part of its story.”
Transform, test, and document data in-warehouse
As cloud data warehouses have become more powerful, data infrastructure has shifted from ETL (extract, transform, load) to ELT. The company said that dbt was created in the early days of this shift as products like Snowflake and Google’s BigQuery were just taking off. Now, dbt has become the leading tool used by analysts and engineers to transform, test, and document data in-warehouse.
Tristan Handy, founder, and CEO of Fishtown Analytics said, “We call this workflow analytics engineering. Technology shifts often require practitioners to adopt new methodologies, like the shift to agile software development within modern software engineering. Analytics engineering is that shift for the modern data practitioner. With dbt as part of a modern data stack, a talented analyst today can match the productivity of a 10-person data team of 10 years ago.”
As of now, the dbt community includes 1,700 companies using dbt. There are 5,000 members of the dbt Slack community.
Triple the size of the engineering team
This fundraise will allow Fishtown Analytics to grow its engineering bench. Handy added, “We expect to triple the size of our engineering team over the next year. We have three engineering priorities right now: getting ready for the 1.0 launch of dbt later this year, making the developer experience in dbt Cloud an absolute joy to use, and building enterprise-friendly functionality.”