Hex raises $100M at a $1.2B valuation to rebuild analytics for AI agents
Co-led by Peak XV Partners and 137 Ventures, the financing backs Hex 4.0, a code-first platform that is in private beta.
By Ryan Merket · Published
Primary source: x.com
Why it matters
Hex is spending new capital to replace parts of its mature analytics product with a code-first platform for agents. Its execution depends on whether customers adopt the new workflow and trust its controls enough to move data work beyond conventional BI interfaces.
Barry McCardel, Hex's co-founder and CEO, announced a $100 million financing round at a $1.2 billion valuation on October 27th, alongside Hex 4.0, a new analytics platform rebuilt around code and AI agents. Peak XV Partners and 137 Ventures co-led the round, with Amplify Partners, Avra, a16z, Redpoint, Sequoia Capital and Zero Prime participating, according to McCardel's announcement and the company's fundraising post.…
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