Big data specialist dbt Labs has managed to raise close to 199 million euros ($222 million) in a new investment round. Major investors include Snowflake, Databricks and Alphabet.
The round brings the market value of dbt Labs to 4.2 billion dollars. The big data specialist plans to use the new capital to build out its solution and expand its workforce.
The company’s dbt tool is used for data transformation: manipulating data sets to make them easier to process. Data transformation can also be used to filter out incorrect data, change data points and update file formats.
The dbt tool also ensures that data transformations are reliable. The tool automatically checks for potential errors. End users can configure the tool for to fully automated error discovery in transformation processes. Version control allows data specialists to monitor changes in data transformation processes and restore to previous versions if errors are discovered.
Integration with major data platforms
Furthermore, the tool allows organizations to further process the modified data in various other tooling. Built-in functionality helps speed up the time required to run the workloads. For this purpose, the tool specifically supports large data platforms such as Snowflake, Databricks and Google BigQuery.
According to dbt Labs, the tool is already being used by 25,000 data scientists and around 9,000 different companies worldwide.