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Snowflake

“Can Snowflake become the universal data collaboration and AI infrastructure layer for the enterprise, replacing fragmented data silos across every industry?”

Founded2012
HQBozeman, Montana (formerly San Mateo, California)
FoundersBenoit Dageville, Thierry Cruanes, Marcin Zukowski
Total raised$1.4B+ (pre-IPO)
Latest roundIPO, September 2020 (NYSE: SNOW)
Valuation~$33B at IPO pricing (priced at $120/share, above initial $75-$85 range)
IndustryInfrastructure / Data Cloud
The story

Founded in 2012 as a cloud-native data warehouse, Snowflake evolved into a multi-cloud 'Data Cloud' platform that enables secure data sharing, collaboration, and AI/ML workloads across AWS, Azure, and GCP. The company went public in 2020 in the largest software IPO at the time. Snowflake is not an embedded finance company — it is the data infrastructure layer that many financial services and embedded finance companies use to store and process transactional data. Its embedded finance footprint is limited to internal use of tax compliance (Avalara) and data pipeline integrations with payments companies (Stripe Data Pipeline).

Last 12 months
2025-03
Product timeline
2012
Snowflake founded as a cloud-native data warehouse company.· pivot
2014
Raised Series B led by Redpoint; began building out multi-cloud data warehousing product.· banking
2020
Raised $479M at $12.4B valuation with Dragoneer and Salesforce Ventures co-leading; IPO on NYSE under SNOW.· ipo
2020
Filed S-1 and IPO on NYSE at $120/share, raising over $3.4B; largest software IPO at the time.· ipo
2023
Launched Snowflake Cortex AI and expanded Data Cloud with ML/AI capabilities for enterprise customers.· pivot
The stack
Accounting gap: none