Fivetran vs Hevo Data
Fivetran holds the stronger position because its $300M+ ARR and pending combination with dbt Labs give it more room to absorb competitive pressure than Hevo's revenue decline and limited differentiation allow.
Fivetran
Fivetran automates moving and transforming data between databases, apps, and warehouses.
Dimension by dimension
| Dimension | Fivetran | Hevo Data |
|---|---|---|
| Staying power of core product | Fivetran's standing is shaky but it still holds $300M+ in ARR, giving it more room to absorb hits. | Hevo's standing is wide open and revenue fell 17.5% in FY25 to $9.7M, a sign the core business is losing ground. |
| Exposure to AI absorbing the product | Fivetran is only partly exposed, since parts of its automated pipeline work are harder for AI to fully replace. | Hevo's product is likely to be absorbed by AI-driven tooling, cutting into its reason to exist as a standalone platform. |
| How easily a giant could copy them | Fivetran is only possibly copied, as its scale and existing integrations make replication slower. | Hevo is likely to be copied by a larger player, since its no-code pipeline approach is not hard to rebuild. |
| Pressure from rivals | Fivetran faces pressure from Airbyte and Hevo on price and from Databricks and Snowflake on native warehouse deals, assessed July 2026. | Hevo faces heavier direct pressure than Fivetran, squeezed by Fivetran, dbt Labs, and Airbyte all pulling customers away, assessed July 2026. |
| Depth of protection around the business | Fivetran has a real buffer built from its $300M+ ARR scale and its pending combination with dbt Labs. | Hevo has little built-in defense, leaving few barriers to stop competitors or AI tools from taking its place. |
| Financial footing | Fivetran's ARR grew from $200M+ in 2023 to $300M+ by late 2024, with a combined $600M ARR projected alongside dbt Labs. | Hevo's revenue dropped from Rs 97.6 crore in FY24 to Rs 80.5 crore in FY25, a clear decline. |
Questions people ask
- Is Hevo Data losing ground to Fivetran?
- Hevo's FY25 revenue fell 17.5% to $9.7M, while Fivetran's ARR has grown past $300M and is projected to reach around $600M combined with dbt Labs. Both companies face rival pressure, but Hevo's numbers point to a shrinking business next to Fivetran's larger, still-growing one.
- Which company is more exposed to AI replacing its product, Fivetran or Hevo Data?
- Hevo is rated as likely to be absorbed by AI tools, while Fivetran is only partly exposed. This gives Fivetran a bit more separation from the risk that AI tools simply do the job Hevo was built for.
- Could a big tech company just copy Fivetran or Hevo Data?
- Hevo is rated as likely to be copied by a larger player, while Fivetran is only rated possible. Fivetran's scale and its pending combination with dbt Labs make it a harder target to rebuild from scratch.
- Does Fivetran or Hevo Data have stronger financials?
- Fivetran reported ARR above $300M as of late 2024, up from $200M+ in 2023, and expects around $600M combined with dbt Labs. Hevo's FY25 revenue was $9.7M, down from Rs 97.6 crore the prior year, a much smaller and shrinking base.
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