Hex Secures $52 Million In Series B Round Of Financing

Fremont, CA: Hex, a collaborative analytics and data science platform, raised $52 million in series B round of financing led by Andreessen Horowitz. Snowflake, the Data Cloud company, and Databricks have also participated in the round, as did existing investors Redpoint and Amplified Partners. Hex plans to use the funds to hire more exceptional individuals and expand its platform to make data work for everyone. In addition, Sarah Wang, a16z General Partner, has joined the Hex Board of Directors.

Hex was founded in 2019 on a simple premise: data could be more powerful for more people if it were more collaborative. Hex assists teams in generating knowledge from their data by providing a streamlined end-to-end workflow that makes it simple to analyze, collaborate, and share.

Hex editing completely reimagines the legacy notebook format for the modern data stack. It includes ground-breaking features such as real-time collaboration, first-class SQL support, no-code charts, and a reactive, graph-based compute engine. Moreover, Hex makes it simple to publish projects as interactive data apps that anyone can use. In addition, the drag-and-drop app builder makes it simple to wire in a user interface. Finally, the knowledge library makes it simple for the rest of the organization to find relevant applications.

Hex has become the home base for thousands of data scientists and analysts from companies such as Notion, Mentimeter, Workrise, Loom, Whatnot, and others. They rely on Hex to assist them in discovering insights and sharing knowledge to make better decisions.

"The magic of data is that it can be used to spark ideas, answer questions, derive insights, and tell stories," Hex CEO and co-founder Barry McCardel said. "However, for far too long, those stories could not be shared because the tools for analysing them were siloed, non-collaborative, and inaccessible."

"The beauty of Hex is how we combine the technical and the analytical, bringing code alongside powerful UI-based tools," said Caitlin Colgrove, co-founder, and CTO. "Hex gives more people access to these workflows, allowing them to interact with and make an impact with their data."