Hex builds a data collaboration platform designed to let different data personas work together and interact with data more easily. The company has added Hex Magic, a generative-AI tool that lets users query and manipulate data in plain language and automates tasks like auto-completing joins. Leadership says the AI functionality is intended to broaden the product’s appeal beyond data scientists and users who know SQL or Python. Hex reports rapid growth: revenue grew 4x and the size of the business grew 4x in one year, and the company says it 10xed its user base after launching a lower-tier offering. Hex now has 450 paying customers, including Brex, Notion, Toast and Chegg. Management plans to invest deeply in product and team, especially around the AI opportunity. Financially, the company entered the round with $52M from its prior financing and says the new capital extends runway to roughly five years. Hex builds a data science collaboration platform that enables analytically fluent business users and data scientists to connect to data, analyze it, and share interactive, collaborative apps. The product targets a broad audience—people coming from Excel, SQL, or Python—rather than only highly trained data scientists. Hex positions itself as the interface for the modern data stack and integrates with tools including Snowflake and Databricks. CEO and co-founder Barry McCardel emphasizes enabling collaboration and access to data across technical and non-technical teams. Since its October Series A, Hex says customers and revenue have grown 4x in five months, and headcount has increased from 18 to 35 with plans to roughly double again within a year. The company has raised over $73 million to date and is scaling hiring to support growth. Hex offers a "super-charged" notebook that can pull datasets from Snowflake or Amazon Redshift, let users organize and format data, then drag-and-drop charts and datasets to quickly build shareable apps. The company released Hex 2.0, which it says addresses reproducibility, interpretability and performance issues common to traditional notebooks like Jupyter. Hex has integrated workflows and announced a partnership with dbt Labs to streamline working between data transformation and analysis tools. The product moved from beta to a more complete release since the seed round, and the company reports dozens of customers. Headcount has grown from five employees at the time of the seed to 18 today, with plans to reach around 24 by year-end. Financially, Hex has raised a total of $21.5 million to date, including the new Series A. Hex provides a super-charged notebook that lets data scientists connect to sources like Snowflake and Amazon Redshift, analyze and explore data, then drag-and-drop charts or datasets to build interactive data apps for nontechnical colleagues. The product aims to eliminate copying/pasting and manual work around sharing data across organizations. Founders developed the idea based on their experience at Palantir and launched the company in late 2019. Hex has nine employees and a small set of paying customers, including Glossier, imgur, and Pave. The company closed a $5.5M seed and is opening the product from a limited beta to wider availability, with plans to make it self-serve later in the year.

Total raised

$102M

Funding rounds

4

Latest round

Equity

Latest activity

Mar 2023