Hex, the first unified, AI-powered workspace for data science and analytics, announced a $70 million Series C funding round led by Avra, with participation from a16z, Amplify, Box Group, Redpoint, Sequoia, and Snowflake Ventures. Thousands of leading organizations — including Reddit, StubHub, HubSpot, Cisco, Figma, Anthropic, Rivian, and the NBA — trust Hex to analyze data, build models, and drive new insights.
Hex was founded in 2020 by a team that had worked together at Palantir, with a mission to build tools that help organizations make better use of data. Instead of developing another siloed point solution for dashboards or notebooks or apps, Hex is taking an integrated approach and bringing users of all technicality levels and use cases together in one place. With AI woven into every layer of the workflow, Hex accelerates speed-to-insight, eliminates redundant work, and allows data teams to scale impact across their organizations.
The data space has been in a cycle of consolidation for years, accelerating as cloud giants jockeyed to own the analytics layer with Google’s 2019 acquisition of Looker for $2.6 billion, and Salesforce’s purchase of Tableau for $15.7 billion. Though intended to streamline data workflows, these moves instead left the industry static — folding legacy BI approaches into broader enterprise ecosystems without addressing the tools’ fundamental limitations or attempting to improve collaboration across functions.
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Now, with AI redefining what’s possible in data science and analytics, the market is at another inflection point. The next wave of consolidation isn’t just about ownership — it’s about replacing outdated tools with AI-native platforms that unify workflows, automate insights, and empower organizations to actually use their data.
In the past two years, Hex has become one of the fastest-growing and most popular tools in data, with thousands of data teams from virtually every industry relying on it to help them better understand their world.
“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.”
Source: BusinessWire