Snowflake is shopping for Samooha, a startup growing a “cross-cloud” knowledge collaboration suite, the companies announced this morning — including to the checklist of huge tech acquisitions main as much as the vacation season.
With the deal, which is predicted to shut by the top of the month topic to customary closing circumstances, Snowflake good points a longtime “data clean room” platform that lets companies securely share, collaborate on and achieve insights from their and their companions’ knowledge, whatever the underlying knowledge stack.
Samooha, in the meantime, will get an undisclosed amount of money and/or inventory along with the assist of Snowflake’s huge technical and engineering infrastructure. All 19 Samooha staff together with CEO Kamakshi Sivaramakrishnan and co-founder Abhishek Bhowmick shall be becoming a member of Snowflake in some capability.
“This acquisition furthers our mission to mobilize the world’s data by accelerating the built-in capabilities of Snowflake’s platform for our customers,” Snowflake director of product administration Carl Perry informed TechCrunch through e mail. “Samooha customers will benefit from the many built-in platform capabilities of Snowflake, as well as the powerful network of Snowflake data cloud. Snowflake customers, meanwhile, will be able to more quickly and easily build, connect and use data clean rooms where their data already lives, directly in Snowflake.”
Los Altos-based Samooha, which Sivaramakrishnan and Bhowmick co-founded in 2022, competes in an more and more crowded knowledge clear room discipline. AWS has a data clean room product, as do startups like Herb. However Samooha’s differentiated by its heavy reliance on the Snowflake ecosystem; Snowflake, unsurprisingly, was an early investor.
A local app on Snowflake, Samooha offers a no-code UI prospects can use to entry and construct clear room apps. The corporate went after verticals it believed could be particularly underserved, like healthcare, monetary providers, promoting, retail and leisure — and claimed to depend a number of Fortune 500 manufacturers in its buyer base.
Buoyed by that buyer acquisition momentum, Samooha raised $12.5 million from buyers, together with Altimeter Capital,previous to the acquisition — valuing the startup at round $40 million post-money.
“Samooha’s founding hypothesis has been that the newest frontier of data and AI will be built on secure data sharing and collaboration foundations,” Sivaramakrishnan stated in an emailed assertion. “Samooha joining Snowflake enhances Snowflake’s ability to help enterprises collaborate in a seamless way, with governance, privacy and security of their data at the core. Businesses and enterprises like healthcare providers, financial institutions and large media platforms can now create strong edges of value exchange and connectivity across their respective partner and customer ecosystem.”
Investing in knowledge clear room tech may transform a profitable resolution for Snowflake — which continues to exceed investor expectations, aspect word — over the long term. According to Gartner, 80% of advertisers spending greater than $1 billion a yr on media could have used knowledge clear rooms for purposes reminiscent of analytics, measuring marketing campaign outcomes and easing knowledge integration by the top of the yr. One other ballot published in early 2023 indicated that 29% of entrepreneurs within the U.S. would focus extra on knowledge clear rooms this yr versus 2022, a prediction that actually wouldn’t be out of the query given Snowflake’s curiosity.
