Enterprise automation firm SnapLogic Inc. today revealed it has raised $165 million in a funding round led by Sixth Street Growth, taking its valuation to $1 billion.

SnapLogic, which previously raised $72 million in a Series G round of funding in October 2019, said the new funds will augment that venture-backed war chest and help it to speed up its international expansion, grow its sales and marketing teams and invest in product innovation.

The company sells a cloud-based data integration platform that helps companies to connect disparate enterprise applications through data pipelines and process flows. Marketing departments, for instance, can use it to build workflows that automatically sync data among their various analytics tools. A finance team, meanwhile, might harness SnapLogic to stream new deal records from Salesforce to its on-premises accounting database.

SnapLogic facilitates these integrations using “Snaps,” which are pre-packaged software connectors. It claims to have developed more than 600 Snaps to date. The startup’s platform also includes a graphical interface in which users can customize and combine these Snaps. The Snaps are further augmented by artificial intelligence that helps to automate the creation of data pipelines and workflows.

The company says its Snaps are used by organizations including Adobe Inc., Aramark Corp., Drax Group Plc, Emirates Group, Qualtics Inc., Magellan Health Inc., Siemens AG and Workday Inc. to reduce operational costs, boost productivity and time to value and ensure successful enterprise automation.

In a year marked by ongoing disruption from the COVID-19 pandemic and accelerating digital transformation across enterprises, Snap Logic has seen its business grow. The company said today it expects to end 2021 with record annual bookings, though it wasn’t specific, and it’s now processing more than 2.7 trillion customer documents per month.

Snap Logic Chief Executive Gaurav Dhillon said the enterprise automation market is booming and that today’s funding round validates its leadership in the market.

“Our focus on the enterprise will unlock the power of applications, data and APIs,” he said. “With SnapLogic, hybrid and multicloud enterprises can ensure their massive investments in public and private clouds, SaaS, cloud data warehousing and APIs will pay off.”

Sixth Street Growth Partner Michael McGinn praised SnapLogic for its seasoned management team, sound economic model and sustainable growth plan, which he said “put it in a great position to capitalize on the thriving enterprise automation sector.”

Image: SnapLogic