Snowflake Computing Inc. raised $450 million in a funding round that more than doubles the data-warehousing startup’s value in nine months to $3.5 billion, reflecting companies’ strong appetite for services that tap into the cloud.
The valuation ranks Snowflake fourth among privately held U.S.-based business software and services companies, according to Dow Jones VentureSource. The latest round, led by Sequoia Capital, brings the total raised by Snowflake to just under $1 billion.
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