Snowflake Computing Raises $263M In Venture Funding, Plans Expansion
January 25, 2018 – Rick Whiting (CRN)
Snowflake Computing has closed on a stunning $263 million round of funding, the company said Thursday, pushing its “pre-money” market valuation to $1.5 billion.
The fast-growing cloud data warehouse-as-a-service provider said the new financing brings its total funding to $473 million. The company said it would use the additional capital to step up its R&D operations and expand its global sales efforts.
Snowflake Computing, founded in 2012 and based in San Mateo, Calif., said that in the past year it tripled the size of its customer base and grew the volume of customer data stored in Snowflake by 400 percent. The vendor’s service went live in June 2015.
Snowflake is competing with … (read more)