Fivetran, DBT Labs complete merger to form data layer for AI
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The combined capabilities of the newly formed company provide the infrastructure, including data integration and preparation, for agents and other cutting-edge applications. Fivetran and DBT Labs are one. The merger of the two, first revealed in October 2025 , became official on Monday, creating a new company that combines the data integration capabilities of Fivetran with the data transformation and data modeling capabilities of DBT Labs. Although financial terms of the all-stock transaction were not disclosed, Fivetran was valued at $5.6 billion in September 2021 when it raised $565 million in venture capital funding, while DBT Labs was valued at $4.2 billion in February 2022 when it raised $222 million from venture capitalists. The combined entity will operate as Fivetran + DBT Labs with former Fivetran CEO George Fraser serving as the new company's CEO and former DBT Labs CEO Tristan Handy serving as president. Given that Fivetran and DBT Labs bring separate but complementary capabilities to Fivetran + DBT Labs, their combination is logical, according to Devin Pratt, an analyst at IDC. "Fivetran moves the data and DBT makes it trustworthy," he said. "Together they cover the two things that buyers care about most right now, [which are] data quality and AI readiness." However, whether existing customers -- particularly those of DBT Labs, which began as an open source...
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