Cloud Data Platform Snowflake receives unicorn valuation from TechCrunch and enormous $263 million investment
Snowflake, a cloud data warehouse company and one of AIM Consulting’s partners, recently raised over $263.5 million to continue to build out its business. Altimeter Capital and Iconiq Capital spearheaded this round of funding which helped raise its valuation to $1.5 billion. Snowflake recently stated that the new funding will be invested in R&D and expanding operations across the globe to take advantage of demand for its data-warehouse-as-a-service offerings.
As it currently stands, the company has positioned itself for a successful IPO, with an impressive portfolio of clients that includes large financial organizations like Capital One. Moreover, Snowflake has experienced tremendous growth, with over a 200% increase in customers in the technology, telecommunications, finance, advertising, and healthcare industries.