dbt Labs

Overview

Maker of dbt (data build tool), the open-source SQL transformation framework, and the hosted dbt platform. Originally Fishtown Analytics (Wikipedia, secondary; rename date not verified). Since the merger completed on 2026-06-01 it operates together with Fivetran as “Fivetran + dbt Labs”, while dbt and Fivetran remain separate product brands.

Leadership

• Tristan Handy - co-founder; President of the combined company, with a board seat and responsibility for community and open source strategy (dbt blog 2025-10-13; Fivetran press 2026-06-01).
• George Fraser - Fivetran co-founder, CEO of the combined company.
• Taylor Brown - Fivetran co-founder (role in combined company not detailed in sources).

Funding history (Wikipedia, secondary)

Series A April 2020 (Andreessen Horowitz); Series B November 2020 (a16z, Sequoia); Series C June 2021 (Altimeter, Sequoia, a16z); Series D February 2022, $222millionata$4.2 billion valuation. Round sizes for A-C not verified.

Timeline

• 2016: dbt starts at RJMetrics. 2018: commercial product launched.
• 2025-01: acquired SDF Labs (Seattle; SQL compilation and static analysis) - basis of the Fusion engine.
• 2025-05-28: first Fusion engine release.
• 2025-10-13: definitive agreement to merge with Fivetran, all-stock (Wikipedia); combined company stated as roughly $600 million ARR and 10,000+ customers (dbt blog).
• 2026-06-01: merger completion announced; dbt Core v2.0 alpha (Fusion runtime under Apache 2.0), dbt State preview, dbt Wizard beta and the Agents Schema announced the same day. Combined company states it serves 100,000+ data teams.
• 2026-09-14: dbt v2.0.0 released. 2026-09-16 (dbt Summit 2026): dbt v2 and dbt State GA; dbt Wizard public preview. Details in dbt.
• Related Fivetran moves: acquired Tobiko Data (SQLMesh, SQLGlot) 2025-09-03 and gave SQLMesh to the Linux Foundation 2026-03-25 (sqlmesh-and-tobiko); steward of Great Expectations from 2026-05-13 (great-expectations).

Products

dbt (open source v2 core, dbt platform, Semantic Layer/MetricFlow, dbt MCP server, Wizard, State, Charts); MetricFlow is Apache 2.0. Participant in the semantic standard open-semantic-interchange (founding member per Snowflake, 2025-09-23).

Sources (fetched 2026-10-07)

• https://www.fivetran.com/press/fivetran-dbt-labs-complete-merger-to-create-the-data-infrastructure-for-trusted-ai-agents
• https://www.getdbt.com/blog/dbt-labs-and-fivetran-merge-announcement
• https://en.wikipedia.org/wiki/Data_build_tool (via API; secondary)

Open items

• Merger terms beyond “all-stock” (exchange ratio, valuation) not found; Wikipedia still says “pending regulatory approval”, which conflicts with the 2026-06-01 completion release (primary wins).
• Total funding raised, headcount and employee count not verified.