Snowflake one of the most exciting cloud-based data warehousing start-ups has recently closed large funding where Salesforce was a leading investor. The G-series funding round was around $479 million. The company’s revenue boosted up by 174% last year is now close to $1 billion. The company has 3400 active current customers out of which 500 were added in the last quarter.
The Cloud-based data warehousing firm has received huge fundings since it’s inception & estimated to have raised more than $1.4 billion to date from investors like Sequoia Capital, ICONIQ Capital, Altimeter Capital & Salesforce’s corporate venture arm joined Dragoneer Investment Group.
Snowflake: An Overview
Snowflake founded in 2012, is a specialist in offering cloud-based enterprise data warehousing & analytics solutions to global businesses. Performing as a virtual data storage, the platform enables organizations to access, search & analyze data seamlessly across multiple cloud platforms as well as on-premise systems. Snowflake was made available on AWS in 2014. It was an ideal solution for enterprises that are hosted on AWS but have data in multiple systems. Later Snowflake was available on Azure in 2018 & Google Cloud Platform in 2019.
Snowflake also offers a GUI tool for SSH, file browser, terminal emulator, disk space analyzer, text editor, and much more. Users can perform various other functions including running data queries, visualization dashboards & building AI models each with their data warehouse. With Snowflake’s Data Exchange, users can discover, exchange and share data securely.
Why Salesforce invested in the cloud-based data warehousing platform?
We can’t deny the fact that today data is playing a prolific role in driving guided business decisions. Collecting, storing and managing data from various sources has become imperative for enterprises irrespective of their industry. Salesforce knows the significance of data & empowers its CRM users with opportunities to get the best out of their data. With the recent partnership, Salesforce will further strengthen its position as the largest enterprise data warehousing provider. This will boost Mulesoft’s data management along with Einstein & Tableau (Salesforce acquired Tableau in 2019) with Snowflake. Salesforce customers can access their data conveniently using the Snowflake platform.
The challenge of a Salesforce user & the need for data strategy
With an aim to integrate data from multiple sources & enable high data-driven strategies, Salesforce users often face the common challenge of limited available data storage space. An imperative data strategy is something that every Salesforce Enterprise & Unlimited Org must have, to avoid high costs & performance issues. With DataArchiva, Salesforce CRM users can take away their data storage challenges forever with a strategic data archiving system. As a 100% native solution for Salesforce, DataArchiva archives the data into the Big Objects (Salesforce’s big data-based storage system). Salesforce customers using Snowflake can use DataArchiva to archive their historical data. Snowflake is highly flexible on big data platforms. To know more about DataArchiva, check the app.