The company plans to invest its new funds into getting Reverse ETL into more hands and expects to double the number of employees by next year. “Ultimately, we found a firm we really loved, ICONIQ, and a price that justified raising sooner rather than later, so we went for it, but had we not found the right partner, we would not have needed to raise money.” “Given the stellar customer references, product market fit, market tailwinds and team we had assembled, multiple VCs wanted to pre-empt the round though we had a lot of money still left in the bank,” he added. It was the accelerated inbound attention that had investors reaching out to both the company and its customers, though Hightouch was not fundraising, Gupta said. In addition to a partnership with Snowflake to warehouse data and the release of Hightouch Audiences, which enables the user to define what data goes into their tools, recent milestones include amassing hundreds of customers, going from four to 40 employees and increasing revenue three times. Since the launch, the company has focused on enterprise customers and added access control features and rewrote its entire platform to handle the millions of rows of data that Fortune 500 customers send on a daily basis, Gupta said via email. Hightouch raises $2.1M to help businesses get more value from their data warehouses It released its first product, Reverse ETL, to access data, previously only in dashboards, into day-to-day tools like customer relationship management. Hightouch was co-founded by Kashish Gupta, Josh Curl and Tejas Manohar to democratize data so that anyone can use data without needing to rely on an engineering team. The latest investment comes four months after $12.1 million in Series A financing led by Amplify, and gives Hightouch $54.2 million in total fundraising and a post-money valuation of $450 million. Angel investors participating in this round include Ramp founder Gene Lee, Monte Carlo founder Barr Moses, Airflow creator Maxime Beauchemin and The Chainsmokers’ Alex Pall. The $40 million Series B round was led by ICONIQ Growth, which was joined by existing investors Amplify Partners, Bain Capital Ventures, Y Combinator and Afore Capital. Just under a year after Hightouch, a SaaS service that helps businesses sync their customer data across sales and marketing tools, made its public launch, the company is back with its third fundraise.
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