Snowflake, the cloud data platform, today announced $479 million in additional growth funding co-led by new investors, Dragoneer Investment Group and Salesforce Ventures. Existing Snowflake investors, including Altimeter Capital, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sequoia, and Sutter Hill Ventures, are also participating in the round. This funding round raises Snowflake’s post-money valuation to over $12.4 billion. This additional funding, and a new strategic partnership with Salesforce, is expected to further strengthen Snowflake’s market position and accelerate its momentum as the leading cloud data platform.
“Snowflake’s rapid growth and ability to unlock real value for customers have been impressive,” said Marc Stad, Founder and Managing Partner of Dragoneer. “We are confident Snowflake’s innovative and evolving technology, and its customer-first approach, will continue to drive sustainable momentum over the long-term.”