SnapLogic, the leader in self-service integration, today announced $40 million in Series F funding to accelerate global expansion and dramatically transform how companies integrate data, applications and devices for digital business. 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. SnapLogic has raised a total of $136.3 million to date.
SnapLogic uses its cloud-based platform to 'snap' together cloud and on-premise applications, data warehouses, big data streams and IoT deployments. Unlike traditional integration software that requires painstaking, hand-crafted work by teams of developers, SnapLogic makes it fast and easy to create data pipelines with no coding. Analysts, data scientists and business users can now create integrations in hours rather than weeks, using visual drag-and-drop software. Under the hood, SnapLogic's 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,' said Gaurav Dhillon, SnapLogic's founder and chief executive officer. 'They can no longer afford the time, cost or complexity of code-based integration, so we completely reinvented how it's done. 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.'
The new funding will be used to expand sales, marketing and customer service globally to meet growing demand for self-service integration. SnapLogic has added more than 300 new customers in the past year, bringing its total customer base to more than 700. Significant wins include Clorox, Del Monte, Denny's, Groupon, Magellan Health, McKinsey, Teva Pharmaceuticals and Wendy's. SnapLogic's platform has been recognized as one of five leaders in Gartner's 2016 Magic Quadrant for Enterprise Integration Platform as a Service (iPaaS), and one of five 'solutions to know' on the Constellation ShortList for iPaaS.
'SnapLogic is at the forefront of a huge market opportunity, attacking real customer pain with a modern platform,' said Peter Read, Managing Director and Thomas Studd, Partner at Vitruvian Partners. '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.'
Industry analysts estimate the market for data, application and device integration software will grow to more than $7 billion by 2020. Customers increasingly demand a modern, cloud-first architecture that can integrate all databases, applications and devices within a single platform, without incurring the technical debt of custom coding. They also want a platform that delivers fast time to value, with the scale and performance to support their business.
Today's funding caps an exciting 2016 for SnapLogic marked by the following achievements, in addition to the customer wins and analyst validation cited above:
Delivered steady innovation with four quarterly product releases, including expanded capabilities for hybrid application integration, cloud data warehousing and big data integration;
Expanded globally into the UK and Australia New Zealand (ANZ) markets;
Launched the SnapLogic Connect Partner Program, with 70-plus partners globally;
Expanded the leadership team with a new Chief Technology Officer, Chief Marketing Officer and international sales leader; and
Earned public recognition for technology and business leadership via the Stevie Awards, CODie Awards, Stratus Awards, CRN 100, DBTA 100 and Bay Area Top Workplaces.
About SnapLogic
SnapLogic is the global leader in self-service integration. The company's cloud-based platform makes it fast and easy to connect data, applications and devices -- eliminating business silos and technology bottlenecks to accelerate digital business. SnapLogic was founded by data industry veteran Gaurav Dhillon and is backed by blue-chip investors including Andreessen Horowitz, AngelList, Capital One, Floodgate, Ignition Partners, Microsoft, NextEquity Partners, Silver Lake Waterman, Triangle Peak Partners and Vitruvian Partners. Learn more at www.snaplogic.com.
About Vitruvian
Vitruvian is an independent private equity firm which specializes in growth middle�market investments. Vitruvian focuses on investing in 'dynamic situations' in industries characterized by rapid growth and change, such as technology & telecoms, media, business services, consumer services, financial services, life sciences & healthcare. Other technology investments include Just-Eat, Farfetch, Skyscanner, Snow Software and Callcredit. In December 2013, Vitruvian announced that it had closed the fundraising of its second fund, Vitruvian Investment Partnership II ('VIP II'), at its self-imposed cap of £1 billion ($1.3 billion; EUR 1.2 billion). Vitruvian has offices in London, Munich, Stockholm and Luxembourg.