SnapLogic, a unified cloud and big data integration platform as a service (iPaaS), founded by data industry veteran Gaurav Dhillon, has announced the closing of a $37.5 million financing with Microsoft and Silver Lake Waterman, joining existing investors, including Andreessen Horowitz, Ignition Partners and Triangle Peak Partners. The capital raised will be used to accelerate growth and expand internationally.
SnapLogic provides integration services for enterprises looking to build or strengthen their cloud and data architecture, allowing businesses to connect data “faster and more efficiently.” Since launching its cloud and big data integration platform in July 2013, SnapLogic has been on a steep upward trajectory and closed a record third quarter in September 2015.
“As enterprises transition to the cloud and need new ways to get maximum value from their data, SnapLogic is poised to lead the market with a faster, modern platform that can connect cloud and on-premises applications, big data and the Internet of Things,” said Scott Kupor, managing partner at Andreessen Horowitz. “We’re excited to continue to work with SnapLogic because they have the right technology and team at the right time.”
SnapLogic states that it now has more than 400 customers for its hybrid and scalable iPaaS. In the third quarter of 2015, the company grew bookings by 182 percent sequentially as customer adoption has continued to grow rapidly across a wide range of industries, including life sciences, healthcare, financial services, media and retail, among others.
“SnapLogic was first to see that a fresh, new approach to connect data, apps and the Internet of Things was needed for the modern enterprise,” said Gaurav Dhillon, founder and CEO of SnapLogic. “Our vision and our mission is to connect anything, anytime, anywhere. This new round of funding allows us to continue to build on our momentum and capitalize on the $500 billion cloud, big data and Internet of Things market opportunity.”
Today, with its expanding customer list, SnapLogic is now processing more than 55 billion documents per month through its cloud and big data integration platform as a service, with some customers adding hundreds of users thanks to the self-service, cloud-based design, management and monitoring environment.