Snowflake raises $450 million in another VC round, valued at $3.5 billion
Snowflake, a cloud data warehouse provider, raised $450 million more in venture funding to bring its grand total raised to $923 million.
The round was led by Sequoia Capital with previous investors also participating. The company has raised money twice in 2018 and now is valued at $3.5 billion.
Snowflake, led by former Microsoft exec Bob Muglia, is aiming to capitalize as data warehouses and big data projects move to the cloud and to more of a pay-as-you-go model.
The company's service has been available since mid-2015 and now has more than 1,000 customers. Snowflake also recently went generally available on Microsoft Azure to go along with Amazon Web Services.
As for the funding, Snowflake said it will expand its multi-cloud strategy, grow its sales team, invest in its data warehouse-as-a-service business and launch new efforts such as Snowflake Data Sharing and The Data Sharehouse.
Previously:
- Snowflake raises $263.5 million for cloud data warehouse conquest
- Snowflake and Databricks aim for dynamic duo
- Snowflake's cloud data warehouse comes to Microsoft Azure
- Snowflake gets auto-ingest from Amazon S3 with 'Snowpipe'
- Snowflake spreads its footprint
- Snowflake Computing raises $100 million to expand cloud data warehouse footprint
- Will Snowflake spark a cloud data warehouse price war?