Snowflake, a Cloud Data System Raises $479M in Financing

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  Snowflake is a   cloud information platform shatters the obstacles that have prevented organizations of sizes from unleashing the real value from their data.

Snowflake , the cloud data system, announced $479 million within additional growth funding co-led by new investors, Dragoneer Investment Group and Salesforce Ventures. Existing Snowflake traders, including Altimeter Capital, ICONIQ Capital, Madrona Venture Team, Redpoint Ventures, Sequoia, plus Sutter Hill Ventures, can also be participating in the round. This particular funding round raises Snowflake’ s post-money valuation to $12. 4 billion. This particular additional funding, and a brand new strategic partnership with Salesforce, is expected to further reinforce Snowflake’ s market placement and accelerate its energy as the leading cloud information platform.

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“ Snowflake’ s rapid development and ability to unlock genuine value for customers have been amazing, ” said Marc Stad, Founder and Managing Companion of Dragoneer. “ We have been confident Snowflake’ s revolutionary and evolving technology, as well as customer-first approach, will still drive sustainable momentum on the long-term. ”

“ We look forward to Dragoneer’ s experience and information as we continue to serve the customers and grow the business, ” Snowflake CEO,   Honest Slootman  said. “ All of us also welcome our relationship with Salesforce and look forwards to the positive impact the technologies and services will certainly deliver to our customers as well as the broader market. ”

Details of the collaboration with Salesforce will be introduced at Snowflake’ s yearly user conference, Snowflake Peak. The conference takes place on the Aria Resort in Vegas, from June 1-4, 2020.

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Considering that its general release within mid-2015, Snowflake has gained the trust of more than a few, 400 customers and keeps growing rapidly. Some of Snowflake’ ersus most recent customers include Accor, Brex, CONA Services, ConAgra Foods, Domino’ s Nachos Enterprises Limited, JetBlue, plus Nationwide.

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