dbt Labs has raised a total of $414.4 million across multiple funding rounds, with its largest being a $222 million Series D round in February 2022. The Philadelphia-based data analytics company develops open-source tools that help data teams transform, manage, and document data in cloud warehouses. Backed by leading investors like Altimeter Capital, Andreessen Horowitz, Sequoia Capital, GIC, and Salesforce Ventures, dbt Labs continues to shape the modern data stack.
Keep reading to explore dbt Labs’ funding journey, key investors, and what’s next for this data transformation pioneer.
What Is dbt Labs and What Does It Do?
Founded in May 2016 by Connor McArthur, Drew Banin, and Tristan Handy, dbt Labs is headquartered in Philadelphia, Pennsylvania, United States. The company develops advanced data transformation tools that empower analysts and engineers to collaborate effectively using SQL, version control, testing, and documentation—turning raw data into reliable, analytics-ready datasets. Its core products include dbt Core, an open-source framework for data transformation and modelling; dbt Cloud, a hosted platform offering a web-based IDE, job scheduling, and collaboration capabilities; and the dbt Semantic Layer, which enables organisations to define and manage metrics consistently across BI tools.
With a workforce of 251–500 employees, dbt Labs supports thousands of organisations—from startups to global enterprises—by delivering scalable, transparent, and maintainable analytics workflows.
How Much Funding Has dbt Labs Raised?
- Series A
- Amount Raised: $12.9M
- Date: April 2020
- Lead Investors: Andreessen Horowitz
- Valuation at Round: $48M
- Motivation: To scale the company and transition from consulting to a software product business.
- Series B
- Amount Raised: $29.5M
- Date: November 2020
- Lead Investors: Sequoia Capital
- Motivation: To expand dbt’s data transformation platform and grow its open-source community.
- Series C
- Amount Raised: $150M
- Date: June 2021
- Lead Investors: Altimeter Capital, Andreessen Horowitz, Sequoia Capital
- Motivation: To enhance product capabilities and scale global operations.
- Series D
- Amount Raised: $222M
- Date: February 2022
- Lead Investors: Altimeter Capital
- Valuation at Round: $4.2B
- Motivation: To expand dbt Cloud, hire over 300 employees, and build the dbt Semantic Layer as an open source of truth for organizational metrics.
Total Funding Raised: $414.4M
Current Valuation: $4.2B
Latest Funding Date: February 2022
Key Investors
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focused on accelerating enterprise cloud innovation.
- Investment Focus Areas: Enterprise software, cloud computing, AI technologies.
- Notable Investments: Zoom, Dropbox, Twilio.
- GIC
- Details: GIC is Singapore’s sovereign wealth fund and one of the world’s largest global investors.
- Investment Focus Areas: Technology, healthcare, and real estate.
- Notable Investments: Alibaba, Airbnb, SpaceX.
- Andreessen Horowitz (a16z)
- Details: Andreessen Horowitz is a Silicon Valley venture capital firm known for backing transformative technology companies.
- Investment Focus Areas: Software, internet, and enterprise tech.
- Notable Investments: Facebook, Airbnb, Slack.
- Sequoia Capital
- Details: Sequoia Capital partners with visionary founders to build enduring companies across industries.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Apple, Google, WhatsApp.
- Altimeter Capital
- Details: Altimeter Capital is a technology-focused investment firm investing in both public and private markets. It led dbt Labs’ $222 million Series D round.
- Investment Focus Areas: Technology, data analytics, software.
- Notable Investments: Snowflake, Unity Technologies, Roblox.
Where Is dbt Labs’ Headquarters?
dbt Labs is headquartered in Philadelphia, Pennsylvania, United States, with remote teams distributed across North America and Europe. The company’s location in the Northeast tech corridor supports strong access to enterprise customers and a growing analytics talent ecosystem.
What’s Next for dbt Labs?
dbt Labs is positioned for significant expansion as organisations modernise their data infrastructure. With a $4.2 billion valuation and a community exceeding 25,000 data professionals, the company aims to build the next layer of the modern data stack — defining a universal semantic framework for analytics.
Future funding and partnerships are likely as dbt Labs deepens its integrations with leading data platforms, such as Snowflake, Databricks, and BigQuery. However, maintaining product reliability and managing rapid scaling will remain critical challenges amid increasing competition in the analytics ecosystem.
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