Snowflake Raises $450M in Growth Funding

Snowflake Team
Thierry Cruanes, Bob Muglia, Benoit Dageville, Marcin Zukowski

Snowflake Computing, San Mateo, CA-based data warehouse built for the cloud, closed a $450m growth funding round.

The round – which raised Snowflake’s pre-money valuation to $3.5 billion and total amount raised to date to $923m – was led by Sequoia Capital, with participation from existing investors Altimeter Capital, Capital One Growth Ventures, Iconiq Capital, Madrona Venture Group, Redpoint Ventures, Sutter Hill Ventures and Wing Ventures, as well as new investor Meritech Capital.

The company intends to use the funds to:
– continue to expand its multi-cloud strategy,
– grow its sales teams across the US and around the world,
– invest further in data warehouse-as-a-service by growing its engineering team, in San Mateo, California, in Bellevue, Washington, and in Berlin, Germany, and
– deliver innovations such as Snowflake Data Sharing, also known as The Data Sharehouse™.

Led by CEO Bob Muglia, Snowflake provides a data warehouse built for the cloud, which enables data-driven enterprises to access to elasticity, secure data sharing and per-second pricing, across multiple clouds.
The company, which has more more than 1,000 active customers, recently announced its availability on Microsoft Azure and its continued support for Amazon Web Services (AWS).



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