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Data integration provider SnapLogic lands $72M in fresh funding
SnapLogic Inc., a startup helping enterprises synchronize data among their disjointed applications and systems, today announced it has secured a $72 million investment led by Arrowroot Capital.
Arrowroot is a California-based fund that specializes in backing business-to-business technology firms. It was joined in the round by Golub Capital and existing investors.
SnapLogic didn’t name those returning backers, but chances there were a few big names among them: The startup’s previous rounds saw the participation of investors such as Microsoft Corp., Capital One Financial Corp. and Andreessen Horowitz.
SnapLogic provides a cloud-based platform that eases the task of connecting disparate enterprise applications. Marketing departments, for instance, can use it to build workflows that automatically sync data among their various analytics tools. A finance team, for example, could harness SnapLogic to stream new deal records from Salesforce to its on-premises accounting database.
SnapLogic facilitates these integrations with Snaps, pre-packaged software connectors of which it has developed more than 500 to date. The startup’s platform also includes a graphical interface in which users can customize and combine these Snaps.
“You can put them together like Lego pieces to define sophisticated tasks so you don’t have to write Java code,” SnapLogic Chief Scientist Greg Benson detailed in an interview (below) last year on SiliconANGLE’s theCube mobile studio. “We use machine learning to help you build out these pipelines quickly … we can anticipate, based on your data sources, what you are gonna need next.”
A number of other companies offer similar integration platforms. MuleSoft LLC, one of SnapLogic’s most direct rivals, was acquired by Salesforce.com Inc. last year in a blockbuster $6.5 billion deal. Other major industry players such as Informatica Corp. and Dell Technologies Inc. are also competitors in this market.
Despite the competition from bigger providers, SnapLogic has managed to build up a sizable customer base. Its platform is used by Adobe Inc., Wendy’s Co., Sony Corp., Siemens AG and a long list of other major enterprises.
SnapLogic said that it will use the new capital to support its global expansion efforts. With this latest round, the startup has raised a total of $208 in funding to date.
Photo: SnapLogic
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