SnapLogic receives $165 million at a $1 billion valuation to assist businesses in integrating and automating their diverse apps and data
SnapLogic, a company that has built a platform to integrate those apps and data, as well as automate some of the activities that use them, has raised a large round of growth funding as more businesses join the trend of digital transformation and bringing more of their legacy work into the modern era of work. The company has secured $165 million, which it will use to grow its product especifically, the AI that powers its platform as well as for commercial development.
The funding was secured at a $1 billion valuation, according to the company. The financing was led by Sixth Street Growth, which isn’t disclosing the names of other investors. Arrowroot Capital, Golub Capital, Andreessen Horowitz, Vitruvian (which also led a prior round), Capital One, Ignition Partners, Microsoft, and a number of other investors have previously backed the company. To date, the company has raised $373 million.
“The enterprise automation market is booming, and our latest funding is further validation of our growing momentum and product leadership in that space,” said Gaurav Dhillon, CEO of SnapLogic, in a statement. “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.”