Announcing our $100M raise

Hex announced Hex 4.0, a complete rewrite of its analytics platform designed to be “agent-native,” alongside a $100 million financing round at a $1.2 billion valuation led by Peak XV and 137 Ventures. Founded in 2019, the company says its prior architecture had incorporated AI features but was not built for the high-concurrency, iterative workflows of modern agents or for integration with external coding and agent tools. Hex 4.0 is built around plain code rather than proprietary formats, with an emphasis on providing the context, governance, controls, and guardrails needed to make distributed data work trustworthy and scalable. The company argues that traditional business intelligence tools are being disrupted as people increasingly use AI coding tools and custom agents to create dashboards and reports, often without adequate provenance or permissions. Hex views this shift as an opportunity to replace legacy BI with a more flexible, code-centered platform that preserves trust while enabling more people to analyze data and build interactive data products.

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