Hex

Emerging#14 in Data & Analytics

SF collaborative data workspace combining SQL and Python notebooks with interactive app publishing; $172M total including $70M Avra Series C May 2025 serving Reddit, Anthropic, and Figma competing with Databricks Notebooks and Mode Analytics.

Collaborative Data Workspace
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Company Overview

About Hex

Hex is a San Francisco-based collaborative data workspace platform — backed with $172 million in total funding including a $70 million Series C led by Avra in May 2025 — providing data analysts, data scientists, and business intelligence teams with a notebook-style environment that combines SQL, Python, R, and no-code visual tools in a single collaborative workspace for data exploration, analysis, visualization, and sharing interactive reports with non-technical stakeholders. Hex serves customers including Reddit, Anthropic, Figma, Rivian, and the NBA with a platform that bridges the gap between technical data work (SQL queries, Python data manipulation) and business communication (interactive dashboards, narrative reports, embedded charts) without requiring separate tools for analysis and presentation.

Business Model & Competitive Advantage

Hex's notebook architecture extends the Jupyter Notebook model with collaboration and production capabilities: multiple data team members can work simultaneously in the same Hex notebook (real-time collaborative editing, not the async file-based collaboration of Jupyter), and finished analyses publish to interactive apps (with working input filters, date pickers, and parameter controls) that business users access through a web browser without requiring any code knowledge or notebook execution. The SQL cells (connecting to Snowflake, Databricks, BigQuery, Redshift, and 15+ other data warehouses with automatic schema completion) generate DataFrames that Python cells can further transform, visualize with Altair/Plotly/Matplotlib, or pass to no-code chart builders — creating the seamless SQL-to-Python-to-visualization workflow that previously required switching between multiple tools (SQL IDE, Jupyter, Tableau).

Competitive Landscape 2025–2026

In 2025, Hex competes in the collaborative data notebook and business intelligence platform market with Databricks Notebooks (the dominant data engineering notebook on Databricks, NASDAQ-bound), Mode Analytics (acquired by ThoughtSpot for $200M), and Observable Plot (data visualization notebooks, $35.6M raised) for data team workflow adoption. The $70M Series C at what appears to be a significant valuation step-up reflects Avra's conviction in Hex's product-led growth trajectory — Hex's developer-centric go-to-market (bottom-up adoption driven by individual data analysts) compounds as more teams adopt the platform and push for enterprise contracts. The notebook-to-app publishing capability differentiates Hex from pure notebook tools (Mode, Observable) and pure BI tools (Tableau, Looker) by addressing both the analysis and the stakeholder communication workflow in one platform. The 2025 strategy focuses on growing enterprise accounts with Hex for Teams (collaborative features, role-based access, version control for notebooks), building the AI-powered SQL and Python generation (Hex AI for query generation from natural language), and expanding the warehouse-native computation for large-scale data analysis.

Revenue
$172M
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Key Differentiators

Emerging Innovator

Hex is an emerging player bringing innovative solutions to the Data & Analytics market.

Growth Stage

Hex has achieved $172M in revenue, demonstrating strong product-market fit.

Frequently Asked Questions

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