Total amount raised
$2 Billions
Latest funding date
Location
Title
Snowflake has successfully raised significant funding over multiple rounds, attracting notable investors such as Blackstone Group and Berkshire Hathaway. The platform offers a cloud-based data warehouse service designed for the cloud, enabling secure and governed access to a network of data.
Keep reading to explore the intricacies of Snowflake's fundraising journey and the investors backing this innovative platform.
What Is Snowflake?
Snowflake, founded in January 2012, is a cloud data platform headquartered in San Mateo, California. The company was established by Benoit Dageville, Marcin Zukowski, Mike Speiser, and Thierry Cruanes.
Snowflake offers a fully managed platform that combines data warehousing, big data flexibility, and cloud elasticity. It supports various data workloads, including analytics, AI, and secure data sharing.
With a workforce of 5001-10000 employees, Snowflake continues to innovate in data management and governance, enabling businesses to harness the power of their data.
How Much Funding Has Snowflake Raised?
- Seed Round
- Amount Raised: $900K
- Date: February 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core technology and build the founding team.
- Series A
- Amount Raised: $5M
- Date: August 2012
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and begin initial market testing.
- Series B
- Amount Raised: $26M
- Date: October 2014
- Lead Investors: Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the product and expand the engineering team.
- Series C
- Amount Raised: $79M
- Date: June 2015
- Lead Investors: Altimeter Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand market reach.
- Series D
- Amount Raised: $105M
- Date: September 2017
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase customer acquisition efforts.
- Series E
- Amount Raised: $263M
- Date: January 2018
- Lead Investors: Altimeter Capital, ICONIQ Growth, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and expand into new markets.
- Series F
- Amount Raised: $450M
- Date: October 2018
- Lead Investors: Sequoia Capital
- Valuation at Round: $3.5 billion
- Motivation Behind the Round: To continue scaling operations and invest in strategic partnerships.
- Series G
- Amount Raised: $479M
- Date: February 2020
- Lead Investors: Dragoneer Investment Group, Global Secure Invest, Salesforce Ventures
- Valuation at Round: $12.4 billion
- Motivation Behind the Round: To strengthen market position and accelerate growth through a strategic partnership with Salesforce.
- Post-IPO Equity
- Amount Raised: $621.5M
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing innovation and expand global reach.
Snowflake has raised a total of $2.03 billion in funding. The most recent valuation is $12.4 billion.
Key Investors
- Blackstone Group
- Details: Blackstone Group is a leading global investment firm with a diverse portfolio. It manages assets across private equity, real estate, hedge funds, and credit.
- Investment Focus Areas: Real estate, private equity, credit.
- Notable Investments: Hilton Worldwide, Merlin Entertainments, Refinitiv.
- Berkshire Hathaway
- Details: Berkshire Hathaway is a multinational conglomerate holding company led by Warren Buffett. It owns a wide range of businesses and has significant investments in various industries.
- Investment Focus Areas: Insurance, utilities, consumer goods.
- Notable Investments: Apple, Coca-Cola, American Express.
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a growth-oriented investment firm. It focuses on high-growth companies, particularly in the technology sector.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Airbnb, Uber, Spotify.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce.com Inc. It invests in enterprise cloud companies that extend the capabilities of the Salesforce platform.
- Investment Focus Areas: Enterprise cloud companies.
- Notable Investments: Zoom, Twilio, DocuSign.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that invests in technology companies across various stages. It has a long history of backing successful startups.
- Investment Focus Areas: Technology companies.
- Notable Investments: Apple, Google, WhatsApp.
What's Next for Snowflake?
Snowflake's strategic partnership with Salesforce opens up vast opportunities for growth. This collaboration aims to enhance product development, marketing, and go-to-market strategies, potentially expanding Snowflake's reach in the enterprise market. With a valuation of over $12.4 billion and a strong customer base, the company is well-positioned to leverage these opportunities.
Future fundraising efforts could be bolstered by the involvement of high-profile investors like Dragoneer Investment Group and Salesforce Ventures. However, Snowflake faces challenges such as intense competition from cloud giants like AWS and Google Cloud, and the need to maintain rapid growth while integrating new partnerships effectively.
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