- SnapLogic recently announced that it has raised $165 million at a billion-dollar valuation. These are the details.
SnapLogic — a leader in enterprise automation — recently announced that it has raised $165 million at a billion-dollar valuation to accelerate its leadership in AI-powered data and application integration, the new glue of the social and virtual era. This latest funding round was led by Sixth Street Growth, which will join the SnapLogic board. And the funds will be used to speed international expansion, product innovation, and sales and marketing.
SnapLogic works with thousands of IT and business leaders from enterprise customers in more than a dozen countries. And leading organizations including Adobe, Aramark, Drax, Emirates, Qualtrics, Magellan Health, Schneider Electric, Siemens, Workday, and more use SnapLogic’s solutions to speed innovation and growth, reduce operational costs, boost productivity and time to value, and guarantee successful enterprise automation and digital transformation initiatives.
This latest funding round in SnapLogic follows a record year with growth and innovation across all elements of the business:
— SnapLogic will exit the year with record annual bookings.
— The SnapLogic platform is now processing 2.7 trillion customer documents per month, which is an unsurpassed scale and size.
— Customers can run automations where they want: behind a firewall, in public clouds, or a mix of both to optimize performance and comply with regulations for geolocation and other security needs. And the result is a quick pandemic pivot to the new reality of combined online and traditional physical environments.
— SnapLogic was the first to apply AI to enterprise integration and now runs, on average, 3.1 million pipelines per month per customer. And instead of looking through heaps of random templates or recipes, SnapLogic customers enjoy the benefits of fast and accurate re-use that only AI pattern recognition provides.
— SnapLogic’s best-in-class architecture means customers uniquely get a single, consistent enterprise-grade platform for all their application integration, data integration, and API management use cases, resulting in a 7x productivity gain over alternatives.
KEY QUOTES:
“The enterprise automation market is booming, and our latest funding is further validation of our growing momentum and product leadership in that space. Unlike point-to-point players, our focus on the enterprise will unlock the power of applications, data, and APIs. In the post-pandemic era, our customers will use AI and automation to revolutionize their hybrid workforces. With SnapLogic, hybrid- and multi-cloud enterprises can ensure their massive investments in public and private clouds, SaaS, cloud data warehousing, and APIs will pay off.”
— Gaurav Dhillon, CEO of SnapLogic and an acclaimed pioneer of the data management industry
“Modern enterprises are democratizing access to data and applications and empowering business teams to use low-code, self-service technologies to build the solutions they need to work better and faster. SnapLogic’s seasoned management team, sound economic model, and sustainable growth plan put it in a great position to capitalize on the thriving Enterprise Automation sector and expanding hybrid workplace trends. We are pleased to lead this funding round and partner with SnapLogic to bring its market vision, unmatched platform, and robust partnerships to more enterprises around the world.”
— Michael McGinn, Partner and Co-Head of Sixth Street Growth
