Qualgro, Lachy Groom, Chiratae Ventures, and several angel investors also participate din the round, the company said in a statement.
Hevo Data, offers an automated data pipeline platform, will use the funds to scale up sales and marketing, double its focus on building new products, and build teams in the United States and Europe, it said.
Hevo is a self-serve platform that loads data from any source into popular cloud data-warehouses such as Snowflake, Google BigQuery, Amazon Redshift, and others.
Founded in 2017 by Manish Jethani and Sourabh Agarwal, Hevo helps companies combine data from disparate sources and applications including sales Customer Relationship Management, advertising channels, marketing tech, financial system software, and customer support products. This often enables companies to get up-to-date, analysis-ready data in their warehouse and build a 360-degree view of their business and customers.
According to the company, it operates in the data integration market, which is estimated to reach $17.1 billion by 2026.
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“Traditionally, companies needed to build a large engineering team to solve this problem. Our no-code approach provides an easy-to-use solution which eliminates technical complexities, eliminating data silos within the companies,” chief executive Jethani said.
The company is well-capitalized, he added.
“Given the large market opportunity and the high growth momentum – growing 500% in the past year, we received strong interest from the market and thus, decided to partner with Sequoia Capital India for our Series B,” he added.
Hevo currently has customers in more than 40 countries.
Over the last year, it has grown its customer base five-fold.
“Data has become one of the most important business inputs in the last decade. Hevo Data is building foundational infrastructure to enable bi-directional mobility of data. The more mobile data becomes within organizations, the more useful it shall be,” said Tejeshwi Sharma, managing director, Sequoia India.
