Fivetran Surpasses $300M ARR, Driven by Growing AI and Data Movement Demand

OAKLAND, Calif., Sept. 27, 2024 — Fivetran today announced it has surpassed $300 million in annual recurring revenue (ARR), up from $200 million in 2023. Fivetran has consistently driven elevated ARR growth and recently reaccelerated year-over-year gains over the past two consecutive quarters. As the leading data movement platform trusted by businesses from startups to Fortune 500 enterprises, Fivetran empowers organizations to move data securely and efficiently, powering Gen AI applications, real-time decision-making and optimized business operations.

“Our rapid growth to $300 million ARR this year shows the urgent demand for reliable, automated data movement as businesses embrace AI-driven decision-making,” said George Fraser, CEO of Fivetran. “Through our global partnerships, work with industry leaders like OpenAI, and innovative products, we’re helping organizations unlock the full potential of their data, ensuring they can scale efficiently while maintaining governance and control.”

AI-Driven Growth and Expanding Global Partnerships

Fivetran’s growth continues to accelerate as industries increasingly adopt AI, solidifying its role as the preferred data movement platform for enterprises.

Fivetran has deepened its partnership with Snowflake by supporting Iceberg Tables, enabling customers to build fully automated, scalable lakehouse architectures within the Snowflake AI Data Cloud using Apache Iceberg. This integration ensures data quality, robust governance and ease of use, optimizing data lakes for maximum performance and value. Fivetran is also developing Native Connectors for Snowflake, simplifying data replication via the Snowflake Marketplace.

At the same time, Fivetran is enhancing its collaboration with Databricks by focusing on seamless integrations with Unity Catalog and serverless support, improving downstream data usability for both Databricks and data lake environments. Fivetran will also support open-source Unity Catalog for Fivetran data lake destinations, allowing customers to register metadata with Databricks’ Unity Catalog.

Simplifying Data Lake Management

In 2024, Fivetran achieved two major milestones. In March, the company expanded its offering to over 600 pre-built connectors, the largest of any data movement platform. This enables seamless integration from a wide range of sources, including SaaS applications, cloud or on-premises databases, ERPs, event streams, and structured, semi-structured or unstructured data, supporting advanced analytics and AI.

In June, Fivetran launched the Managed Data Lake Service, automating the secure landing of clean, organized data from over 600 sources into data lakes. Using open table formats like Apache Iceberg and Delta Lake, this service simplifies data governance by offering the ease of a data warehouse with the flexibility and scale of a data lake. Available on Amazon S3, Azure Data Lake Storage and Microsoft OneLake, Fivetran automatically converts data into query-ready formats for easier management and insight generation.

Powering the Future of AI and Data Movement

As global AI adoption continues to rise, Fivetran leads the way in helping organizations manage the increasing complexity of data management, governance and compliance. From handling OpenAI’s massive data volumes to providing automated solutions for enterprises, Fivetran continues to set the standard for enterprise-grade data integration.

About Fivetran

Fivetran helps customers use their data to power everything from AI applications and ML models, to predictive analytics and operational workloads. The Fivetran platform reliably and securely centralizes data from hundreds of SaaS applications and databases into any cloud destination — whether deployed on-premises, in the cloud or in a hybrid environment. Thousands of global brands, including Autodesk, Condé Nast, JetBlue and Morgan Stanley, trust Fivetran to move their most valuable data assets to fuel analytics, drive operational efficiencies and power innovation.

Source: Fivetran