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Fivetran raises 565 million at 5,6 bln valuation

Fivetran raises 565 million at 5,6 bln valuation

Fivetran, a data integration startup, said on Monday it raised $565 million in its latest funding round led by Andreessen Horowitz, and raised the total value of the company to 5,6 billion.

The California-based company announced that it is buying HVR in a cash-and-stock deal valued at 700 million dollars.

HVR, which provides enterprise data replication services, helps to translate data from Oracle and SAP platforms to cloud destinations such as Inc's (AMZN.O) AWS and Microsoft'S (MSFT.o)

Cloud companies have seen a surge in demand since last year, as more businesses use their services to help them learn from home and work.

Fivetran, which has customers including Forever 21 and Square (SQ.N) said it expects the deal to close in early October.

Fivetran has raised seven30 million dollars to date.

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