Hex, a data analytics platform, has raised US$100 million in new funding at a US$1.2 billion valuation. Peak XV and 137 Ventures led the round. Amplify, Avra, a16z, Next Legacy, Redpoint, Sequoia, and Zero Prime also participated.
Funding details
Hex announced the financing after its best-ever quarter. The company plans to use the new capital to scale its team and expand go-to-market. It also said the funding will support continued product investment.
Company scale
Hex was founded in 2019. The platform is used by more than 2,500 customers globally. It previously introduced early AI features such as a text-to-SQL prototype and later data agents.
The Hex 4.0 rewrite
Hex 4.0 is a from-scratch rewrite built around code. It adds context, controls, and guardrails for analytics work. The company says it gives agents native access instead of requiring clunky external workflows.
Hex said the new architecture allows features that were not possible on the old system. The company plans to keep building on this foundation. Additional products and releases are expected as the platform expands.