The funding will help Snowplow Analytics provide support for new types of data creation. Here are the top-line bullets you need to know.
Snowplow Analytics, a behavioral data analytics startup, has raised $40M in a Series B. The round drew participation from Atlantic Bridge Capital, MMC Ventures, and New Enterprise Associates.
HOW’S THE COMPANY PERFORMING?
- UK-based Snowplow Analytics enables data teams to create the behavioral data they need to power machine learning, artificial intelligence, and advanced analytics applications.
- It has over 10K clients, including CNN, Datadog, GitLab, Capital One, Autodesk, and Axel Springer.
- Snowplow’s annual recurring revenue (ARR) is about $12M.
- The startup is currently supported by a global team of about 140 employees.
Source: Snowplow Analytics
WHY DOES THE MARKET MATTER?
- The global data analytics market is expected to reach a value of $346.2B by 2027, growing at a CAGR of 30.7%, according to Market Research Future.
- The generation of increasing amounts of data across industries is contributing to market growth.
- The demand for solutions that enable remote data management has increased amid the pandemic.