Today, I’m thrilled to share the news that Snowplow has raised $40 million in Series B funding led by global venture capital firm, NEA, with continued support from existing Snowplow investors, Atlantic Bridge and MMC. This brings our total funding raised to-date to $55 million. The full press release for the fundraise is here.
Our Series B funding goes a long way toward supporting our vision to empower any organization to create data to power transformative AI and advanced analytics, directly from their data warehouse, lake, or stream and in real-time. From the first meeting with Tony Florence and Alex Sharata at NEA, it was clear that they shared this same vision with Yali and myself. And since we started talking to Tony and Alex, we’ve been humbled by their commitment, guidance, and enthusiasm as we seek to build a global movement around Data Creation.
Alex put it well:
We were impressed by Snowplow’s traction with the open source community as well as the company’s ability to deliver value to large enterprise customers such as Auto Trader, Flickr, Strava, and Zenefits, among others. We’re thrilled to partner with Alex Dean, Yali Sassoon, and the Snowplow team as they continue to create and operationalize data at scale for teams across the globe.Alex Sharata, Senior Associate, NEA
I am humbled by what Snowplow has achieved in the last 6 months alone:
- We have forged deeper connections with our modern data stack partners, announcing our partnerships with Databricks and Snowflake.
- We have continued to grow our vibrant open source community, with over 10,000 organizations worldwide using Snowplow.
- We have expanded globally, opening our US HQ2 in Boston, and are hiring an incredible team to support our growth, including Nick King, President and CPMO, and Sam Whelan, VP of Sales North America.
- And above all we are most proud of the success that our 200+ customers have found with Snowplow. Our customers, including brands like Strava, Auto Trader and Charlotte Tilbury, are now creating a quarter of a trillion events a month – a phenomenal amount of Data Creation.
Snowplow’s Series B marks the start of an exciting ‘Act Two’ for our company. The capital raised will allow us to invest heavily in developing extensive use cases to meet any industry need:
- Advanced Analytics for modeling customer behavioral data across multiple points of engagement, from web, mobile, point of sale, sales data, and customer support, creating a dataset that provides companies with the most accurate view of customer behavior and marketing attribution. Snowplow’s approach to pipeline deployment, first-party tracking, and anonymous tracking provides significant advantages over traditional analytics tools such as Google Analytics.
- Composable CDP and Customer 360 – Behavioral data creation is the underlying foundation of the Composable CDP, providing a true single customer view and a platform to power personalization at scale. Compared to off-the-shelf CDPs, composable CDPs are built on a business’s single source of truth, the warehouse or lake, and built with best-in-class data tooling.
- AI/ML Model Creation becomes more efficient with Snowplow, by eliminating data wrangling. Snowplow delivers real-time, AI-ready data to your warehouse or lake, ready to train data models. With every data point validated up front against a user-defined schema, there is full assurance that data is in a highly expected format at a consistent level of granularity to create accurate model predictions.
And this is just us getting started. Our new investors have helped us to see the full scope of what Data Creation can be – while Snowplow’s roots are in web and mobile behavioral data, we see huge potential in using our unique technology to create other types of enterprise data in the future.
Before signing off – at this milestone Yali and I just wanted to say a huge thank you to our people. For the inspiring passion, drive and commitment to Snowplow and our values – thank you, Snowplowers.
It’s just the beginning, and we can’t wait to invite others on our journey!
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