Snowflake Computing Raises $26M in Funding

snowflakeSnowflake Computing, a San Mateo, CA-based cloud data warehousing startup, said it raised a total of $26m in funding.

Its most recent Series B round was led by Redpoint Ventures with participation from Sutter Hill Ventures, who had also provided seed funding and led the Series A financing, and Wing Ventures. In conjunction with the funding, John Walecka, founding partner of Redpoint Ventures whose past investments include data innovators such as Sybase, Documentum and Datameer, joined Snowflake’s board of directors.

The company intends to use the funds to expand its team to accelerate product development and build out customer and partner ecosystems.

Founded in 2012 and led by Bob Muglia, CEO, Snowflake is a cloud data warehousing company that has just emerged from stealth: Its Snowflake Elastic Data Warehouse™ is a new data warehouse built as a cloud service to bring together all users, all data and all workloads in a single SQL data warehouse.

The Snowflake team holds over 120 patents in databases and data processing.

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Supporting Quotes
“Snowflake is a company with the potential to disrupt a huge market. They have quietly assembled a world-class team of top database talent and put that brain trust to work building a transformational data warehouse product,” said Mike Speiser, managing director of Sutter Hill Ventures. “They have taken on one of the most complex areas of software and rapidly built a completely new product that is a huge innovation over current technology. It’s a winning offering for customers and investors, and definitely a company to watch.”

“The market opportunity for Snowflake to reinvent the SQL data warehouse for the cloud is enormous and transformative,” said John Walecka, founding partner of Redpoint Ventures. “All of the investment into business intelligence tools for unstructured data may have overshadowed what may be the biggest untapped void in data analytics. Snowflake is changing the game by making data warehousing accessible to everyone by designing a new data warehouse from scratch.”

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