Snowflake plans to expand his startup accelerator by $ 200 million in additional engagements, said the technology giant that specializes in storing cloud -based data on Thursday.
The new capital injection follows a series of activities from Snowflake over the past few months that illustrates the ambitions of growing that company.
Snowflake’s start -up accelerator, formerly known as Snowfflake’s funding program, invests in a wide range of early phase beginnings. In particular, the accelerator invests in the beginnings that build specific industry products based on Snowflake. Beginnings in the accelerator receive technical support from snowflake and access to co-marketing opportunities, as well as Amazon public cloud loans, AWS.
Graduates from previous groups include Coalesce, Andrew Ng Landingai and Twelvelabs.
Part of the 200 million fresh dollars will come from the new and existing Snowflake VC partners, including Bain Capital Ventures, Blackstone Innovations Investments, Bessemer Venture Partners, Capital One Ventures, General Catalyst, Graylock Partners, Hetz Ventures, Mayfield, Newbuild, Newbuild, Newbud Nttvc and virtue.
There are some great prints to be aware. Snowflake noted in a blog post that while attending QV firms can Invest in Snowflake Startup Company Company, there is no “no guarantee” that any particular company receives funds or that the intended full amount is invested.
Snowflake, who also announced plans for a new 30,000 -square -foot “HUB” on his Menlo Park campus and a $ 20 million upskilling program, continues to invest aggressively in him. Earlier this week, the company announced an extended partnership with Microsoft to provide access to the Openai models. At the end of last year, Snowflake scored a multi -year partnership with anthropic and winning Datavolo, a firm of the Data Pipeline.
Snowflake’s strategy seems to be being repaid. The company defeated Wall Street’s analyst’s estimates for its latest fiscal quarter (Q4 2024), raising $ 987 million in revenue.
