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Snowflake raises $450 million in another VC round, valued at $3.5 billion

The data warehouse-as-a-service provider has been on a tear raising capital and going multi-cloud.

Snowflake, a cloud data warehouse provider, raised $450 million more in venture funding to bring its grand total raised to $923 million.

The round was led by Sequoia Capital with previous investors also participating. The company has raised money twice in 2018 and now is valued at $3.5 billion.

Snowflake, led by former Microsoft exec Bob Muglia, is aiming to capitalize as data warehouses and big data projects move to the cloud and to more of a pay-as-you-go model.

The company's service has been available since mid-2015 and now has more than 1,000 customers. Snowflake also recently went generally available on Microsoft Azure to go along with Amazon Web Services.

As for the funding, Snowflake said it will expand its multi-cloud strategy, grow its sales team, invest in its data warehouse-as-a-service business and launch new efforts such as Snowflake Data Sharing and The Data Sharehouse.

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