Flurry of funding for cloud data warehouse vendor Snowflake

Snowflake raises $450m to boost engineering and sales capabilities

Cloud-based data warehouse Snowflake Computing has raised $450m (£341m) in Series F funding, bringing its total raised to $929m.

The latest flurry of funding raised the company's pre-money evaluation to $3.5bn, it said, and follows a $263m round from earlier this year.

The latest wave of money will be used to expand its engineering teams to develop its data warehouse-as-a-service offering and to increase its sales teams globally.

Founded in 2012, the US-based company claims to be the only data warehouse built for the cloud, and is headed by former Microsoft exec Bob Muglia.

It currently has a number of offices in Europe, including London, Stockholm and Berlin.

"Learning to be data-driven is an imperative for every organisation today, and a data-driven organisation must be in control of its data," Muglia said.

"Snowflake is the most powerful data warehouse in the world for analytics solutions. That power delivers the security, control and business answers needed to enable data-driven organisations.

"This is driving spectacular growth for our company, and this latest funding round will provide Snowflake with the resources we need to serve our rapidly growing set of new and existing customers around the world."

Snowflake works with both Microsoft Azure and Amazon Web Services, stating that this allows it to provide multiple options for its customers who prefer specific cloud providers.

The vendor claims to provide "limitless" insight to its customers quickly, at a lower cost than its larger competitors.

The latest funding round was led by Sequoia Capital.

Carls Eschenbach, partner at Sequoia, stated: "Snowflake is a key enterprise solution for the public cloud.

"The company's flexible, cloud-built data warehouse enables customers to quickly derive deep insights from their data without the hassle and costs of other, legacy solutions.

"Snowflake has truly disrupted the data warehouse market but the best is yet to come. We are confident Snowflake's customer-first approach and focus on innovation will continue to drive the company's growth."