Hex rewrites its entire product from scratch, then raises $100M at a $1.2B valuation

Hex Raises $100M

Hex, a data platform founded in 2019, rebuilt its product from the ground up as Hex 4.0, an agent-native system built on plain code rather than retrofitted AI. The company closed a $100 million round led by Peak XV at a $1.2 billion valuation, with participation from a16z, Sequoia, and Redpoint. Hex argues the old BI paradigm is over and that data work now needs context, controls, and guardrails to be trusted.