Snowflake Raises $479M in Funding, at $12.4 Billion Valuation


Snowflake, a San Mateo, CA-based cloud data platform, raised $479m in growth funding.

The round – which raised Snowflake’s post-money valuation to over $12.4 billion – was co-led by Dragoneer Investment Group and Salesforce Ventures with participation from existing investors Altimeter Capital, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sequoia, and Sutter Hill Ventures.

This additional funding, and a new strategic partnership with Salesforce, is expected to further strengthen the company’s market position.

Led by CEO Frank Slootman, Snowflake provides more than 3,400 customers with a cloud data platform that offers the data warehouse built for the cloud, instant, secure and governed access to their entire network of data, and a core architecture to enable many types of data workloads, including a single solution for developing modern data applications.

Some recent customers include Accor, Brex, CONA Services, ConAgra Foods, Domino’s Pizza Enterprises Limited, JetBlue, and Nationwide.



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