Snowflake Gains $450 Million
Snowflake Computing, a data warehouse built for the cloud, closed $450 million in additional growth funding led by Sequoia Capital and existing investors Altimeter Capital, Capital One Growth Ventures, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sutter Hill Ventures, and Wing Ventures. New investor Meritech Capital also joined this round, which raises Snowflake’s pre-money valuation to $3.5 billion. This is the company’s second financing announcement in 2018, bringing Snowflake’s total amount raised to $923 million.
According to the company, Snowflake has earned the trust of 1,000 active customers such as Netflix, Office Depot, DoorDash, Netgear, Ebates, and Yamaha. It is confident that the power, performance, flexibility, and elasticity enabled by Snowflake’s cloud-built architecture will continue to drive the company’s growth.