Profile Salesforce Ventures Ncino SnowFlakeLevyCNBC, the investment arm of Salesforce, and NCino, a cloud-based banking software provider, have announced a strategic investment in Snowflake, a cloud data platform. The investment will enable Snowflake to accelerate its growth and expand its global reach.
“Snowflake is the leading cloud data platform and we’re excited to invest in their continued success,” said John Somorjai, executive vice president of Salesforce Ventures. “This investment will enable Snowflake to scale even faster and reach more customers globally.”
CEO of Snowflake
“We’re thrilled to have the support of Profile Salesforce Ventures Ncino SnowFlakeLevyCNBC,” said Bob Muglia, CEO of Snowflake. “This investment will help us accelerate our mission to make it easy for everyone to access data.”
Snowflake has seen tremendous growth since it was founded in 2012. The company has raised over $1.4 billion from investors including Altimeter Capital, ICONIQ Capital, Madrona Venture Group, Sequoia Capital, and Sutter Hill Ventures. Snowflake is now used by over 2,000 customers in more than 50 countries.
Two tech giants are investing in a fast-growing startup that is shaking up the $13 billion data warehouse market.
Cloud-Based Customer Relationship Management Software Company
Profile Salesforce Ventures Ncino SnowFlakeLevyCNBC, the investment arm of the cloud-based customer relationship management software company, is leading a $105 million investment round in Snowflake, which was founded in 2012.
This is the first time Salesforce has invested in Snowflake. The two companies have been partners for two years.
“Snowflake is the data warehouse for the cloud,” said Mike DeCesare, president and CEO of Snowflake. “We make it easy for companies to move their data from on-premise data warehouses to the cloud.”
Netflix and Twitter
Snowflake has more than 2,000 customers, including Adobe, Netflix and Twitter. The company has grown rapidly, with revenues increasing from $26 million in 2016 to $ 264 million in 2019.
“We’re seeing a lot of interest from companies that are looking to move to the cloud,” DeCesare said.
Accelerate Snowflake’s Growth
The new funding will be used to accelerate Snowflake’s growth. The company plans to use the money to expand its sales and marketing efforts and to invest in research and development.
“We want to continue to build the best product and go after the largest companies in the world,” DE Cesare said.
Latest in a String of Big Bets
The investment from Profile Salesforce Ventures Ncino SnowFlakeLevyCNBC is the latest in a string of big bets on Snowflake. In 2018, the company raised $450 million from investors, including Altimeter Capital, ICONIQ Capital and Sequoia Capital.
“This is a company that is on a rocket ship,” said John Somorjai, executive vice president of Salesforce Ventures.
Somorjai said that Salesforce has been impressed by Snowflake’s technology and its team. He said the two companies share a vision for the future of the cloud.
“We think Snowflake is going to be a big company,” Somorjai said. “We’re excited to be a part of it.”
Powerful Tool for Data Analysis
Snowflake is a cloud-based data platform that enables users to store, query, and analyze data. Snowflake offers a variety of features that make it a powerful tool for data analysis, including the ability to connect to multiple data sources, query data in real time, and visualize data in a variety of ways.
As the world increasingly moves towards a digital-first economy, data is becoming more and more important. And with the advent of cloud computing, businesses are able to access and analyze data like never before. That’s why companies like Snowflake are seeing such success.
Cloud-Based Data Warehouse Company
Founded in 2012, Snowflake is a cloud-based data warehouse company that helps businesses store, analyze, and share data. The company has seen incredible growth in recent years, with its revenue increasing from $37 million in 2017 to $264 million in 2019.
And now, with a new $450 million investment from Salesforce Ventures, Snowflake is looking to expand its offerings even further.
The investment, which was announced today, will help Snowflake expand its product offerings and go after new markets. Additionally, the funds will be used to build out the company’s sales and marketing efforts.
“This investment will enable us to accelerate our plans to build the best cloud data platform in the world,” said Snowflake CEO Bob Muglia in a statement. “We are thrilled to have the backing of Salesforce Ventures as we execute on our vision.”
With this new investment, Snowflake is well-positioned to continue its rapid growth and expansion in the years to come.
Salesforce and NCino customers can now use Snowflake to better manage their data. Snowflake is a powerful data management tool that makes it easy to manage salesforce data. NCino customers can use Snowflake to connect to their data in Salesforce and NCino, making it easy to keep track of their sales data. Snowflake also makes it easy to share data between Salesforce and NCino.