Latham & Watkins Advises dbt Labs in US$222 Million Series D Financing Round

This latest financing round brings the company’s valuation to US$4.2 billion.

February 25, 2022

dbt Labs, the pioneer in analytics engineering, has announced that it has raised US$222 million in Series D financing at a US$4.2 billion valuation. The round was led by existing investor, Altimeter, with participation from existing investors Amplify Partners, Andreessen Horowitz, and Sequoia. New investors participating in the Series D include Coatue, Tiger Global, ICONIQ Growth, GV, and GIC. Three strategic investors representing leaders in the shift to the cloud – Databricks, Salesforce Ventures, and Snowflake – also participated. 

Latham & Watkins LLP represents dbt Labs in the transaction with an emerging companies deal team led by Bay Area partner Ben Potter, with Boston associate Peter Prial, Bay Area associate Derek Berry and New York associate Ed Grigoryan. Advice was also provided on regulatory matters by Washington, D.C. partner Jim Barker; on benefits and compensation matters by Bay Area partner Ashley Wagner; on compliance matters by Washington, D.C. counsel Andrew Galdes, with Washington, D.C. associate Allison Hugi.

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