Apr 5, 2017
In business, your impact directly correlates with the problems you strive to solve. Snowflake’s founders gathered in 2012 to unravel a prevalent and persistent struggle that has hindered organizations ever since OLTP systems emerged five decades ago. Data professionals continue to ask, “How can we derive timely, business insight from all the data available to our enterprise?”
Their struggle is bigger today than it has ever been. The exponential increase in available data in the past 10 years has outpaced the improvements in legacy data warehouse solutions for on-premises and cloud environments. It’s also the reason why Snowflake emerged, and why our customers, technology partners and funding partners continue to invest in us.
With that said, I’m proud to announce Snowflake’s latest round of $100 million of growth funding led by ICONIQ Capital and accompanied by Madrona Venture Group. Snowflake’s Series D round also includes all of Snowflake’s existing funding partners: Altimeter Capital, Redpoint Ventures, Sutter Hill Ventures and Wing Ventures. Since its founding in 2012, Snowflake has raised a total of $205 million in funding.
The cloud has enabled enterprises of all types and sizes access to unlimited data. But therein also lies the struggle: Nearly every enterprise has many on-premises and cloud-based data silos they struggle to bring together. How do you integrate all of those varying forms of data and make all of that data available for deep analysis by all your users without degrading performance? For many customers, it’s difficult to even find the relevant data.
Snowflake is designed to make the struggle for data disappear. Our revolutionary, built-for-the-cloud architecture and proven technology have delivered up to 200 times faster performance for our growing customer base, and at one-tenth the cost of their previous data warehouse solutions. We’ve also enabled customers to launch Snowflake within just a few months, and in many instances, just a few weeks. But all of that, and more, are just the beginning.
With this latest funding round, Snowflake continues our pursuit to help transform every organization into a data-driven enterprise. We are outpacing all of our competitors by enabling customers to do things with data they had never envisioned. Snowflake is solving problems that Oracle, Teradata, Hadoop, and other cloud data warehouses can’t even begin to deliver: The performance, concurrency and simplicity needed to analyze all your data, from one location, by all your users.
Our new funding will also enable a host of initiatives to expand Snowflake’s operations to serve our growing customer base in the US and around the globe. Our UK office is expanding rapidly, with plans to establish offices across Europe and in Asia Pacific. We’ve also expanded our engineering operations with an office in Bellevue, Washington, allowing Snowflake to tap into the best and brightest talent of the Seattle area.
Snowflake is helping enterprises to end their struggle for data. Our rapidly growing base of customers and partners confirms this. And our latest round of growth funding further validates, and enables, Snowflake’s pursuit of the data-driven enterprise. So, be on the lookout, Snowflake is coming your way. And we want to help you end your struggle for data.