![]() With the backing of our investors, partners and customers, we’re overhauling an antiquated industry to ensure patients are matched to the right provider, at the right time, and in the right setting.” “We’re staring at a new era of care delivery,” said Streat, “and this financing validates DexCare’s impact to modernize health commerce, from how care is accessed and orchestrated to delivered. The pandemic taught us that consumers want convenience and choice, and that health systems need controls to manage the supply of care – DexCare delivers both. “The trauma caused on the frontlines, as health systems rushed to care for their communities, stressed an already high level of provider and nurse burnout. healthcare system,” said Derek Streat, CEO of DexCare. “We’re just emerging from an unpredictable moment in history that cast a spotlight on a strained U.S. The new funding brings the total raised to $146 million, including two oversubscribed rounds closed in less than two years. The funding will advance DexCare’s platform, which extends limited health-system capacity to serve patients faster and to precisely manage the supply and demand of digital-care access. “At the end of the day, this is a very long journey that we are on, and I think the headline number is going to feel very small in another three years,” he says.Seattle, WA – J– DexCare, Inc., the leading patient demand and care access platform, today announced the close of its $75 million Series C funding round led by ICONIQ Growth. It’s why he picked multiple crossover funds as investment partners on the new round, given their experience helping companies make the private to public market transition. “Dbt in many ways is riding the exact same wave and market tailwind that someone like a Snowflake is ,” he says.įurther down the line, an IPO is “certainly on the table,” Handy says. And thanks to growing cloud demand, some infrastructure providers are able to continue accelerating their growth, adds Altimeter’s Ball, even at the scale of billion-dollar yearly revenues. Executives for both companies called their new investment a “vote of confidence” in Dbt Labs’ staying power in the ecosystem. Such capabilities could be key to Handy’s ambitions of evolving Dbt Labs from a subscription product into “a foundational layer that things get built on,” much like new backers Snowflake and Databricks. It’s a big waste of time and frequently it dissuades people from even trying to use data in the first place.” “Instead of having a conversation about last month’s business performance, you end up talking about technical details, like how my revenue number differs from your revenue number. “The experience of a data professional today leaves a lot to be desired,” he says. Now, Handy is looking towards building new software tools, namely one for standardizing business metrics. The latest capital injection will help Dbt Labs continue to scale up and meet growing demand, particularly abroad (less than 40% of users are based in North America). ![]() Handy declined to comment on revenue, except to say it had grown sixfold in 2021, but two sources placed it in the double-digit millions. About 9,000 companies use the open-source tool, more than 1,800 of which are paying customers in its hosted cloud service. Last June, Handy announced plans to grow employee count to 250 by the end of 2022 his target has since doubled. Even still, it’s growing faster than Handy anticipated. It became a unicorn-and rebranded to Dbt Labs-one year later. With its data transformation tool, which multiple industry insiders have labeled as the market’s clear leader (unusual for a startup of its size), Handy’s startup established itself as a crucial component of the cloud data workflow. It came right as enterprises, pushed by the pandemic, sped up their digital transformation efforts. Handy took his first check in April 2020 in an Andreessen Horowitz-led round that valued the company at $48 million, according to Pitchbook. Handy, who had bootstrapped his business until then, turned to the venture capitalists to fund the scale-up. I don’t know that we can trust such a critical piece of data infrastructure to such a tiny little company.’” The opportunity was obvious: Turn the free tool into software these companies would readily buy. “They were saying things like, ‘We want to use this thing, but you’re a 15-person company. By 2019, more than 1,000 businesses had adopted it and large enterprises began to call up Handy. Consulting clients soon took notice of the internal tool, which Fishtown Analytics had made open source. The tool piped in the many disparate types of raw data pouring in from across the cloud and democratized them so that they could be used for analytics. Along the way, Handy’s team built an internal “data build tool” (“dbt” for short) to improve the productivity of their consulting work.
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