New funding follows record revenue, customer usage, and platform growth; funds will accelerate international expansion and product innovation
SAN MATEO, Calif. – SnapLogic, the leader in Enterprise Automation, today announced that it has raised $165 million at a billion dollar valuation to accelerate its leadership in AI-powered data and application integration, the new glue of the social and virtual era. This latest round was led by Sixth Street Growth, which will join the SnapLogic board. The funds, which augment SnapLogic’s venture-backed war chest, will be used to speed international expansion, product innovation, and sales and marketing.
SnapLogic works with thousands of IT and business leaders from enterprise customers in over a dozen countries. Leading organizations including Adobe, Aramark, Drax, Emirates, Qualtrics, Magellan Health, Schneider Electric, Siemens, Workday, and more use SnapLogic’s solutions to speed innovation and growth, reduce operational costs, boost productivity and time to value, and guarantee successful enterprise automation and digital transformation initiatives.
This latest investment in SnapLogic follows a record year with growth and innovation across all elements of the business:
Record Revenue: SnapLogic will exit the year with record annual bookings.
Exponential Platform Usage: The SnapLogic platform is now processing 2.7 trillion customer documents per month, an unsurpassed scale and size.
Ideal Architecture for the Automated Enterprise: Customers can run automations where they want: behind a firewall, in public clouds, or a mix of both to optimize performance and comply with regulations for geolocation and other security needs. The result is a quick pandemic pivot to the new reality of combined online and traditional physical environments.
Impactful AI: SnapLogic was the first to apply AI to enterprise integration and now runs, on average, 3.1 million pipelines per month per customer. Instead of looking through heaps of random templates or recipes, SnapLogic customers enjoy the benefits of fast and accurate re-use that only AI pattern recognition provides.
One Platform, All Use Cases: SnapLogic’s best-in-class architecture means customers uniquely get a single, consistent enterprise-grade platform for all their application integration, data integration, and API management use cases, resulting in a 7x productivity gain over alternatives.
“The enterprise automation market is booming, and our latest funding is further validation of our growing momentum and product leadership in that space,” said Gaurav Dhillon, CEO of SnapLogic and an acclaimed pioneer of the data management industry. “Unlike point-to-point players, our focus on the enterprise will unlock the power of applications, data, and APIs. In the post-pandemic era, our customers will use AI and automation to revolutionize their hybrid workforces. With SnapLogic, hybrid- and multi-cloud enterprises can ensure their massive investments in public and private clouds, SaaS, cloud data warehousing, and APIs will pay off.”
“Modern enterprises are democratizing access to data and applications and empowering business teams to use low-code, self-service technologies to build the solutions they need to work better and faster,” said Michael McGinn, Partner and Co-Head of Sixth Street Growth. “SnapLogic’s seasoned management team, sound economic model, and sustainable growth plan put it in a great position to capitalize on the thriving Enterprise Automation sector and expanding hybrid workplace trends. We are pleased to lead this funding round and partner with SnapLogic to bring its market vision, unmatched platform, and robust partnerships to more enterprises around the world.”
About SnapLogic
SnapLogic powers the automated enterprise. The company’s self-service, AI-powered integration platform helps organizations connect applications and data sources, automate common workflows and business processes, and deliver exceptional experiences for customers, partners, and employees. Thousands of enterprises around the world rely on the SnapLogic platform to integrate, automate, and transform their business. Learn more at snaplogic.com.
About Sixth Street
Sixth Street is a global investment firm with over $55 billion in assets under management and committed capital. Sixth Street Growth is the firm’s dedicated platform for making private investments in growth companies. The Sixth Street Growth team partners with companies and management teams to provide bespoke, accretive financing solutions to accelerate organic and inorganic growth. Sixth Street has invested over $5 billion in more than 40 companies in its growth investing strategy since inception. Select current and past representative Sixth Street Growth investments include Airbnb, AvidXchange, Datavant, Gainsight, MDLIVE, Spotify, and Sprinklr. For more information, visit www.sixthstreetgrowth.com or follow Sixth Street on LinkedIn.
Connect with SnapLogic via our Blog, Twitter, Facebook, or LinkedIn.
Leave a Reply