SAN MATEO, CA--(Marketwired - Dec 10, 2015) - SnapLogic , the industry's first enterprise integration platform as a service (iPaaS) for big data, today announced the closing of a $37.5 million financing with Microsoft and Silver Lake Waterman, the growth capital arm of Silver Lake, 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."
"We are very pleased to partner with SnapLogic," said Shawn O'Neill, managing director and group head of Silver Lake Waterman. "We believe SnapLogic has a track record of rapid customer adoption, a premier integration platform, and is well positioned for further growth and international expansion."
"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."
SnapLogic now has more than 400 customers of its modern, 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. 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.
About SnapLogic SnapLogic is the industry's first unified data and application integration platform as a service (iPaaS). The SnapLogic Elastic Integration Platform enables enterprises to connect to any source, at any speed, anywhere -- whether on premises, in the cloud or in hybrid environments. The easy-to-use platform empowers self-service integrators, eliminates information silos, and provides a smooth onramp to big data. Founded by data industry veteran Gaurav Dhillon and backed by leading venture investors, including Andreessen Horowitz and Ignition Partners, SnapLogic is helping companies across the Global 2000 to connect faster. Learn more at www.SnapLogic.com .
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About Silver Lake Waterman Silver Lake Waterman is part of Silver Lake, the global leader in technology investing with over $26 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located around the world. Silver Lake Waterman focuses on providing growth capital, via its Growth Debt product, to later-stage growth companies in the technology and technology-enabled industries. Growth Debt is a proprietary instrument created by Silver Lake to provide a flexible solution for companies in the technology industry ecosystem seeking to finance expansion. For more information about Silver Lake Waterman and Silver Lake, please visit www.silverlake.com .
About Andreessen Horowitz Andreessen Horowitz backs bold entrepreneurs who move fast, think big and are committed to building the next major franchises in technology. Founded by Marc Andreessen and Ben Horowitz, we provide entrepreneurs with access to our deep expertise and insights in innovation, business development, market intelligence, executive and technical talent, and marketing and brand building. Find us in Menlo Park, California, and at www.a16z.com .
About Ignition Partners Ignition Partners helps entrepreneurs build innovative, category-defining businesses of lasting value. The firm, with offices in Bellevue, Wash. and Palo Alto, Calif., specializes in early-stage investments in "consumerized" enterprise IT, cloud computing and big data. For more information, visit www.ignitionpartners.com .
About Triangle Peak Partners Triangle Peak Partners II, LP is focused on venture capital and private equity investments in private and public companies in the technology, energy and alternative energy sectors. It is managed by Triangle Peak Partners, LP which has $500 million in assets under management, approximately $350 million of which is in venture capital and private equity. TPP has offices in Carmel, Palo Alto and Houston. For more information, visit www.trianglepeakpartners.com .
Press Contact Natasha Woods 10Fold SnapLogic@10Fold.com 925.271.8219
