SnapLogic, an Integration Platform as a Service (iPaaS) provider, has announced $40 million in Series F funding to accelerate global expansion and transform how companies integrate data, applications and, devices for digital business.
Founded in 2006, SnapLogic, has raised a total of $136.3 million to date. The new round was led by European private equity firm Vitruvian Partners, with follow-on investment from Andreessen Horowitz, Capital One, Ignition Partners, NextEquity Partners, and Triangle Peak Partners.
The company uses its cloud-based platform to “snap” together cloud and on-premise applications, data warehouses, big data streams and IoT deployments. It makes it fast and easy to create data pipelines with no coding. Its powerful data streaming architecture delivers real-time processing with high throughput to get the right data to the right people at the right time.
“Companies are desperate for better data and shared truths, but silos and bottlenecks limit their agility, productivity and profits. They can no longer afford the time, cost or complexity of code-based integration, so we completely reinvented how it’s done,” said Gaurav Dhillon, Founder and Chief Executive Officer, SnapLogic.
“SnapLogic is truly the next generation of what we built at Informatica 24 years ago, and goes well beyond the incremental improvements offered by Talend and MuleSoft,” he added.
The new funding will be used to expand sales, marketing and customer service globally to meet growing demand for self-service integration.
SnapLogic claims to add more than 300 new customers in the past year, bringing its total customer base to more than 700 including Clorox, Del Monte, Denny’s, Groupon, Magellan Health, McKinsey, Teva Pharmaceuticals and Wendy’s.
According to Peter Read, Managing Director and Thomas Studd, Partner, Vitruvian Partners, SnapLogic is at the forefront of a huge market opportunity, attacking real customer pain with a modern platform. They have built an innovative product, impressive customer roster and experienced leadership team.
“We’re especially impressed with feedback from major enterprises that are using SnapLogic to connect data sources in minutes or hours rather than weeks — without the need to maintain custom code. We look forward to supporting their European expansion,” they said.
