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Hex scores $52M Series B to grow data science collaboration platform

Hex has been transferring briskly alongside its startup evolutionary path with its knowledge science collaboration platform rising at a speedy tempo, a lot so the corporate attracted the eye of fundraising mega-firm Andreessen Horowitz and a pair of key trade strategic traders, Snowflake and Databricks.

Firm CEO and co-founder Barry McCardel stated that it’s as a result of his firm isn’t simply concentrating on a selected group of extremely educated knowledge scientists like so many merchandise on this area — it’s trying to achieve a wider group of enterprise customers who’re analytically savvy however lack the total knowledge science talent set.

“Our audience is that this actually massive inhabitants of individuals which can be kind of analytically fluent,” he stated. “They may be coming from Excel, or they may be SQL-proficient, or they may write Python. All of those individuals can come into Hex. They’ll collaborate, they’ll analyze knowledge, they usually can share it.”

He sees Hex because the interface for the trendy stack, which might embrace a lot of instruments, notably together with traders Snowflake and Databricks. “We would like that knowledge to be helpful. And we wish individuals to have the ability to entry and analyze it. Hex is an unlock for that,” he stated.

Sarah Wang, common accomplice at a16z, who might be becoming a member of the Hex board as a part of the funding deal, sees the startup as reimagining knowledge collaboration. “Hex is reworking the info area by enabling knowledge scientists to attach their knowledge, analyze it, after which share it by interactive and collaborative apps that get each technical and non-technical groups to the best choices sooner,” she stated in an announcement.

After we final spoke to Hex in October around it $5.5 million, the corporate was speaking by way of dozens of shoppers. McCardel stated that since that point, the variety of clients and income has grown 4x, and that’s simply in 5 months.

The corporate has additionally virtually doubled the variety of workers since October, rising from 18 to 35, with plans to roughly double once more within the subsequent 12 months. On the time of its Collection A, McCardel stated his firm was placing quite a lot of focus and intentionality on constructing a various crew, and because it grows, that continues to be the main target.

“We’re agency believers that various groups do their finest work. And so we’re persevering with to prioritize that. And I feel if you happen to take a look at the outcomes we’ve been in a position to drive, it’s actually a mirrored image of that unimaginable group of individuals we’ve introduced collectively,” McCardel stated.

The corporate introduced the $52 million Collection B right this moment. Along with a16z and the 2 strategics, present traders Redpoint and Amplify Companions additionally participated within the spherical. The funding builds on the $5.5m seed in 2020 and the $16 million Collection A in 2020 for a complete of over $73 million raised.

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