This morning, Snowflake Computing announced that they’ve nabbed $100 million in Series D funding. The round was led by ICONIQ Capital and accompanied by Madrona Venture Group. All existing funding partners were also involved. Since its founding in 2012, Snowflake has raised a total of $205 million in venture capital. Snowflake offers a fully-managed service with a pay-as-you-go model that works on structured and semi-structured data.
The new funding will allow the Data Management provider to expand operations across the US and UK and establish connections with the EU and Asia Pacific. The company also plans to grow it’s engineering team for their cloud data warehouse product and deliver feature enhancements to cloud and on-prem solutions.
In fiscal year 2016, the company nearly doubled its customer base and lowered its data warehouse storage pricing. They also unveiled Snowflake On Demand, a sign-on process that gives data users access to an affordable data warehouse. Snowflake also partnered with some of the biggest names in Big Data and analytics in recent months, including providers like Tableau, Looker, MicroStrategy, Informatica and Talend.
CEO Bob Muglia adds: “The additional funding will help us serve organizations of all sizes and across all industries, with the best platform to enable the data requirements for modern business. We’ll continue to advance our industry-leading technology to serve our current and future customers.”
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