Hex Technologies, a San Francisco-based AI-powered data analytics company, raised $100 million in a Series D funding round at a $1.2 billion valuation.
The round was co-led by Peak XV Partners and 137 Ventures, with participation from Amplify Partners, Avra, Andreessen Horowitz (a16z), Next Legacy, Redpoint Ventures, Sequoia Capital and Zero Prime.
Founded in 2019 by Barry McCardel, Caitlin Colgrove and Glen Takahashi, Hex develops a collaborative analytics platform that enables businesses to explore, analyse and share data through a unified workspace.
The platform combines SQL, Python, R, interactive data applications, visual analytics and AI-powered assistance. It allows technical and business teams to collaborate on data analysis, build reports and develop applications connected to enterprise data systems.
The financing announcement coincided with the introduction of Hex 4.0, a redesigned version of the platform built around code-based analytics and collaboration between users and AI agents. The new architecture incorporates shared context, governance controls and tools for managing analytical workflows.
Hex plans to use the new capital to expand its team, strengthen its go-to-market operations and continue developing its AI-powered analytics platform.
According to the company, its platform serves more than 2,500 customers globally.
The latest financing followed Hex’s $70 million Series C round announced in May 2025, which supported its development of AI-powered analytics capabilities and expansion of its business.
