Showing posts with label Data Warehousing. Show all posts
Showing posts with label Data Warehousing. Show all posts

Thursday, October 11, 2018

Snowflake adds $450 million in funding for data warehousing

Snowflake Computing, a start-up based in San Mateo, California, closed $450 million in additional growth funding led by Sequoia Capital and including existing investors: Altimeter Capital, Capital One Growth Ventures, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sutter Hill Ventures and Wing Ventures. New investor Meritech Capital also joined this round, which raises Snowflake’s pre-money valuation to $3.5 billion.

Earlier this year, Snowflake announced $263 million new venture funding in a round led by ICONIQ Capital, Altimeter Capital and newcomer Sequoia Capital.

This second round brings Snowflake’s total amount raised to $923 million.

Snowflake is headed by Bob Muglia, who previously was president of Microsoft’s $16 billion Server and Tools Business, responsible for products such as Windows Server, SQL Server, System Center and Windows Azure. Snowflake recently announced its availability on Microsoft Azure and its continued support for Amazon Web Services (AWS).

Snowflake has offered data warehousing services since 2015. It claims 1,000 active customers, including Netflix, Office Depot, DoorDash, Netgear, Ebates and Yamaha.

“Learning to be data-driven is an imperative for every organization today, and a data-driven organization must be in control of its data,” Snowflake CEO Bob Muglia said. “Snowflake is the most powerful data warehouse in the world for analytics solutions. That power delivers the security, control and business answers needed to enable data-driven organizations. This is driving spectacular growth for our company, and this latest funding round will provide Snowflake with the resources we need to serve our rapidly growing set of new and existing customers around the world.”

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