Snowplow raises $40 million Series B round
We backed Snowplow in its Series A funding round in 2019, and again in 2021 alongside Atlantic Bridge. We're delighted to back this impressive team as they announce this successful Series B raise.
Snowplow, the world's leader in data creation, has created a fully managed platform for creating behavioral data that’s used by companies to power artificial intelligence, machine learning and advanced analytics applications.
Today, over 10,000 customers use the platform to collect and organize data from multiple sources. For instance, it can be used to track a company’s website, application or internet of things platform, organizing this data within a customer’s data warehouse or data lake. It then goes further, enhancing the data it collects with artificial, or synthetic data. This information can then be combined with data from other systems to create a Universal Data Language specific for each business. The purpose is to reduce the time spent on preparing this data to be used for AI and analytics.
“Snowplow was built to solve the need for predictive, behavioral data to drive decisions, insights in a privacy conscious and scalable way”Alex Dean, Snowplow founder and CEO
As companies adopt AI and ML in more parts of their business, there is an increasing need for high-quality, well-structured, predictive, and well-understood data to power those algorithms. Traditional approaches, where companies repurpose existing data, have proved expensive and brittle. Snowplow was founded to address this challenge with a unique approach: enabling organizations to deliberately create better data for AI and advanced analytics, driving improved AI performance, faster time to value, and better compliance.
Common use cases for Snowplow include:
- Advanced Analytics for modeling customers behavioral data across multiple points of engagement from web, mobile, point of sale, sales data, and customer support to create a dataset that provides companies with the most accurate view of customer behavior and marketing attribution. Snowplow’s approach to pipeline deployment, first-party tracking, and anonymous tracking provides significant advantages over traditional analytics tools such as Google Analytics.
- Composable CDP and Customer 360 - Behavioral data creation is the underlying foundation of the Composable CDP, providing a true single customer view and a platform to power personalization at scale. Compared to off-the-shelf CDPs, composable CDPs are built on a business’s single source of truth, the warehouse or lake and built with best-in-class data tooling.
- AI/ML Model Creation becomes more efficient by eliminating data wrangling. Snowplow delivers real-time, AI-ready data to your warehouse or lake, ready to train data models. With every data point validated up front against a user-defined schema, there is full assurance that data is in a highly expected format at a consistent level of granularity to create accurate model predictions.
For more info, see TechCrunch's article.