Hex secures $16 million in latest funding round, encourages data teams to collaborate with updated solution
Hex Technologies, the collaborative data workspace, announced it has raised $16 million in Series A financing, enabling the company to grow its product and go-to-market teams and continue building its platform.
This brings the company’s total funding to $21.5 million. The round was led by Redpoint Ventures with participation from previous investors Amplify Partners, as well as Data Community Fund, Geometry, Operator Collective, Tokyo Black, Vandelay Ventures, XYZ Venture Capital and individual investors.
Additionally, Redpoint Managing Director Tomasz Tunguz has joined the Hex Board of Directors
Hex offers a collaborative data workspace, equipping data teams to seamlessly go from idea to insight to sharing.
The Hex platform includes real-time collaborative data notebooks, interactive data apps, first-class SQL support and an all-new reactive compute engine. It’s used by data teams at companies like Workrise, Glossier, AngelList, Human Interest, Whatnot, dbt Labs, Setel, and dozens of others worldwide.
“We’re on a mission to help everyone do more with data, together,” said Barry McCardel, Hex’s co-founder and CEO. “The fast adoption and incredible reception we are seeing among our users is evidence of a real need. Our team is excited to keep pushing analytics workflows even further into the future.”
Within a typical organization, data scientists and analysts jump between multiple tools to do their work, such as code notebooks, SQL scratchpads and dashboards, and sharing via spreadsheets, screenshots and slides. This fragmentation can cause issues for collaboration, sharing, and organization, and limits data teams’ impact. Hex eliminates these problems so that companies can get the most from their data investments , according to the vendor.
Using Hex, organizations can connect to data sources like Snowflake, analyze it in a collaborative notebook using SQL and Python, and share work as interactive apps and stories.
Features like first-class SQL support and interactive app sharing make working with data more accessible to a broader population, while retaining more sophisticated Python workflows.
By equipping analytically technical persons, Hex aims to simplify data workflows just as tools like Figma have done with design workflows.
The launch of Hex 2.0 introduces an entirely new way to work with code notebooks and build data apps. The new reactive compute model makes data projects more reproducible, interpretable and performant, solving critical issues that plague notebook-based workflows today.
Hex 2.0’s reactive compute engine analyzes the code to automatically infer relationships between cells, and the innovative Graph UI allows users to understand dependencies and execution order. Hex 2.0 also includes Dataframe SQL, which makes it easy for users to work with both Python and SQL in a single workflow.
Additionally, Hex is also providing an integration to dbt, which has quickly become the standard for transformation in the data warehouse and preparing raw data for analysis.
The integration enables Hex users to uncover valuable information about the databases in their workspace. Details such as table freshness and data quality are displayed directly in Hex, eliminating the need to cross-reference between multiple tools in the data pipeline.
For more information about this news, visit https://hex.tech/.