Funding round led by Avra, with continued support from a16z, Amplify, Box Group, Redpoint, Sequoia, and Snowflake Ventures
Hex, the pioneering AI-powered workspace unifying data science and analytics, has announced the close of its $70 million Series C funding round. The round was led by Avra, with ongoing participation from prominent investors including a16z, Amplify, Box Group, Redpoint, Sequoia, and Snowflake Ventures.
Since its founding in 2020 by a team of former Palantir colleagues, Hex has rapidly gained traction among thousands of top organizations — including Reddit, StubHub, HubSpot, Cisco, Figma, Anthropic, Rivian, and the NBA — who rely on the platform to explore data, build predictive models, and extract actionable insights.
Unlike traditional tools that silo dashboards, notebooks, or applications, Hex takes a unified, end-to-end approach to analytics. Designed to serve users across all skill levels, the platform integrates AI throughout the workflow to accelerate insights, reduce duplication, and empower data teams to amplify their organizational impact.
Over the past decade, the data landscape has been shaped by major consolidation efforts. Tech giants like Google and Salesforce acquired Looker and Tableau, respectively, in multi-billion-dollar deals meant to simplify analytics. But instead of true innovation, these moves often entrenched legacy business intelligence models within broader enterprise stacks—falling short of improving collaboration or solving core workflow issues.
Artificial intelligence is redefining what’s possible in data science, and Hex is positioned at the forefront of this shift. The market is no longer just consolidating ownership—it’s evolving toward a future where AI-native platforms replace outdated systems, streamline workflows, and unlock the full potential of organizational data.
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Hex’s rapid growth and adoption reflect this momentum. In just two years, the company has become one of the most trusted and widely used data tools, enabling teams across industries to generate deeper understanding and make data-driven decisions faster.
“For years, the holy grail of data analytics has been a single platform that truly serves both data scientists and business users—without compromise,” said Anu Hariharan of Avra. “Hex has made that vision a reality by building a tool that’s easy to get started with, but powerful enough for advanced users. By combining the flexibility of notebooks with the accessibility of BI in an AI-native platform, they’ve cracked the code. We’re proud to support Hex as they help usher in the long-awaited data decade.”
“At Hex, we’ve long believed that our work should compound—that data teams shouldn’t be stuck rerunning the same analyses, only for their insights to disappear into a forgotten notebook or buried slide,” said CEO and co-founder Barry McCardel. “The industry is finally waking up to what we’ve known all along: the old divide between notebooks and BI is broken. AI-native, unified tools are the future, and Hex is leading the charge to replace the outdated, fragmented data stack once and for all.”
With its latest funding, Hex plans to accelerate product development, expand its AI capabilities, and scale its reach to empower even more teams around the world.