Hex raises $100M Series D at $1.2B valuation to rebuild for AI agents

Hex is a collaborative data analytics and data science platform. The company announced the $100 million Series D on October 27 at a $1.2 billion valuation, and the round was led by Peak XV Partners and 137 Ventures. It arrived alongside the launch of Hex 4.0, a version rebuilt around AI agents. The report did not give a revenue or ARR figure for the company. Hex sells to analysts and data teams, a market where agents are being added to notebooks and analytics tools that were built before agentic workflows existed. For founders, the round shows an established analytics vendor can still raise at a $1.2 billion valuation by re-architecting its core product around agents. Builders should note that the story rests on a product rebuild, so the next proof point will be usage of the new version.