Snowflake Computing, the only data warehouse built for the cloud, today announced it has closed $263 million in growth funding led by ICONIQ Capital, Altimeter Capital and newcomer Sequoia Capital. Snowflake’s latest round also includes the remainder of Snowflake’s existing funding partners: Capital One Growth Ventures, Madrona Venture Group, Redpoint Ventures, Sutter Hill Ventures and Wing Ventures. With this round of funding, Snowflake’s pre-money valuation is $1.5 billion. Since its founding in 2012, Snowflake has raised a total of $473 million in growth funding.
Snowflake continues to experience rapid growth thanks to its innovative cloud data warehouse that far surpasses the capabilities of legacy competitors. But the data warehouse was just the beginning. Snowflake continues to evolve what’s possible with data analytics, enabling enterprises to easily access critical data within their ecosystems and beyond. In the past year, Snowflake grew its customer base by 300 percent and has increased customer data stored in Snowflake four-fold.