Snowflake Computing, the cloud data warehousing company, announced that it has raised a total of $26 million in funding from prominent venture capital firms Redpoint Ventures, Sutter Hill Ventures and Wing Ventures. The funding will be used to expand its team to accelerate product development, build out customer and partner ecosystems, and deliver on the vision to reinvent the data warehouse for the cloud.
"There has been shockingly little innovation in data warehousing in a decade. That creates a huge and largely unaddressed market opportunity -- to create a data warehouse designed for the data, analytics, and technology innovations of today and tomorrow," said Bob Muglia, CEO of Snowflake. "The venture capital we've attracted underscores that investors see the same opportunity, and demonstrates their confidence in the work done over the last two years by Snowflake's world-class team. This funding will further accelerate our product innovation and support our go-to-market strategy and investments."
