The cloud-based data warehouse service Snowflake announced the mammoth investment this morning, raising $263 million in a round led by Iconiq Capital, Altimeter Capital, and Sequoia Capital, in a fundraising round that values it at $1.5 billion, reports TechCrunch. Early last year it raised $100 million, and is likely headed for an IPO. CEO Bob Muglia told the site: “We have put ourselves on the path to IPO. That’s our mid- to long-term plan. This funding allows us to go directly to IPO and gives us sufficient capital that, if we choose, IPO would be our next funding step.”
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