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dbt Labs

How much has dbt Labs raised?

dbt Labs raised more than $410 million before its June 2026 all-stock merger with Fivetran. Its last major priced round was the $222 million Series D in February 2022 at a $4.2 billion valuation.

Total raised
$410M+ pre-merger
Disclosed rounds
4-5 reported
Latest round
$222M Series D (2022)
Latest valuation
$4.2B pre-merger
First raised
2019 institutional
Notable backer
Andreessen Horowitz

dbt Labs's funding rounds

dbt Labs's funding path reflects a rapid move from open-source analytics tool to multi-billion-dollar data SaaS.

  1. 2019Seed / early institutional - reportedEarly funding after Fishtown Analytics' software transition.
  2. 2020Series A/B - reportedAmplify, a16z, Sequoia, and others support early dbt Cloud growth.
  3. Jun 2021Series C - $150M at $1.5BLarge growth round as dbt becomes the analytics engineering standard.
  4. Feb 2022Series D - $222M at $4.2BLed by Altimeter with a16z, Sequoia, Databricks, Snowflake, Salesforce Ventures, and others participating.
  5. Jun 2026Fivetran merger - all stockMerger closes; no cash financing or new standalone dbt valuation disclosed.

Sources:dbt Labs Series DFivetran + dbt merger close

How much has dbt Labs raised in total?

Public profiles put dbt Labs's pre-merger funding above $410 million. The current status is merged with Fivetran, so the standalone funding view is historical.

Who are dbt Labs's investors?

Investors included Altimeter, Amplify, Andreessen Horowitz, Sequoia, Coatue, Tiger Global, ICONIQ, GV, GIC, Databricks, Snowflake, and Salesforce Ventures.

Why did the valuation move?

dbt Labs's valuation expanded as dbt became the default analytics engineering workflow and dbt Cloud passed major enterprise-adoption milestones. The Fivetran merger reflected consolidation around trusted data infrastructure for AI.

Is dbt Labs profitable, and will it IPO?

Standalone profitability was not publicly disclosed. The June 2026 all-stock merger means any IPO path would now be a combined-company question.

What does dbt Labs's funding mean if you sell into them?

Sell into the combined Fivetran + dbt Labs account around enterprise data governance, AI-ready data, developer tooling, security, cloud cost, semantic layers, and customer success for data teams.

As of June 2026.Sources:dbt Labs Series DFivetran + dbt merger closea16z investment list

dbt Labs — frequently asked questions

Read the full dbt Labs profile
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