Snowflake

Snowflake offers a cloud-based data platform primarily for data management and analytics. The platform, engineered for cloud efficiency, is designed to facilitate a global “Data Cloud,” enabling organizations to explore, share, and utilize their data effectively. Snowflake's approach focuses on data accessibility and integration across cloud environments​​.

In the analytics realm, Snowflake's services include data management tools targeted at enhancing customer data insights, and connecting with multiple solutions to transform data into an asset while mitigating the complexities associated with legacy systems​​. Snowflake reportedly processes over 2.6 billion data queries and manages more than 515 million data workloads daily (October 2022).

Snowflake acquired data clean room and collaboration startup Samooha (whose flagship solution is built on Snowflake’s own data management platform) in December 2023. Samooha’s technology was reportedly absorbed into Snowflake’s existing clean room solutions, solidifying existing integrations, consolidating capabilities, and streamlining usage of Samooha’s tools.

Key customers and partnerships

As of November 2023, Snowflake’s customers included Okta, Western Union, Panoramic, Capital One, AMN Healthcare, Autodesk, Comcast, Tapestry, and Anthem, with representation across advertising, media and entertainment, financial services, healthcare and life sciences, manufacturing, public sector, retail and consumer goods, technology, and telecommunications.

Snowflake's partnerships span technology partners and system integrators, facilitating the deployment and effectiveness of its platform for customers. Other notable partners as of November 2023 included Matillion, Tableau, Fivetran, DataRobot, Cisco, Zepl, Informatica, and Dropbox. These collaborations focus on enabling customers to derive meaningful insights from their data using Snowflake's flexible solutions​​.

Funding and financials

Financially, Snowflake reported a product revenue of USD 1,1 billion in FY2022, marking a 106% YoY growth. Snowflake also reported 5,944 customers as of January 2023, with a net revenue retention rate of 178%. Among these, 184 customers contributed more than USD 1 million in trailing 12-month product revenue​​.