SnapLogic Raises $10 Million to Drive Integration 2.0
Funding Round Led by Andreessen Horowitz Ben Horowitz Joins SnapLogic Board of Directors
San Mateo, California – Dec 8, 2010 – SnapLogic, the cloud integration company, today announced that it has raised $10 million in Series B funding led by Andreessen Horowitz and that Ben Horowitz has joined SnapLogic’s board of directors. Led by Gaurav Dhillon, founder and former CEO of Informatica, SnapLogic delivers a new model for enterprise integration, bringing together on-premise and cloud-based data and providing dramatic reductions in cost and implementation time.
* *Key Points
- Andreessen Horowitz has led the $10 million funding round, extending their previous investment in SnapLogic.
- With the investment, Andreessen Horowitz General Partner Ben Horowitz joins the SnapLogic board of directors.
- SnapLogic plans to employ the funds to invest in additional product innovation, grow the sales and marketing organization, and expand into the European market.
- SnapLogic was the first to integrate applications residing both on-premise and in the cloud, and is built from the ground up to lead the Integration 2.0 wave.
- SnapLogic has created the world’s first online integration store. The SnapStore provides more than 60 certified Snaps– connectors to tie together different data sources and applications. Developers with expertise in integrating particular applications can build custom Snaps to be offered in the SnapStore.
Comments on the news:
“Gaurav helped create and build the data integration market into a multibillion dollar business. Now SnapLogic is delivering the next wave in data integration for the post-cloud computing world,” said Ben Horowitz, general partner at Andreessen Horowitz. “When we look at the SnapLogic team, their products and the business problem they are solving, you have to believe this is a company positioned for success.”
“Ben and the team at Andreessen Horowitz are well recognized as thought leaders in cloud computing and its promise for the enterprise, and they understand the opportunity that exists for SnapLogic’s cloud integration solutions– new types of data integration that we refer to as ‘Integration 2.0’,” said Gaurav Dhillon, CEO of SnapLogic. “It is taking the things we have learned over the years and applying them to a whole new enterprise architecture that is based on flexibility, scalability and new efficiencies.”
About Andreessen Horowitz
Andreessen Horowitz is a venture capital firm that invests in high technology companies and is based on a vision for a new, modern venture capital firm that supports entrepreneurs through angel investments to large scale funding. Its general partners are Marc Andreessen, Ben Horowitz and John O’Farrell, all widely recognized experts in the creation, scaling, and operation of high growth technology companies such as Netscape, Opsware, Silver Spring Networks, and Excite@Home. Andreessen Horowitz has more than 25 investments with companies like Foursquare, Kno, Rockmelt, Skype, Snaplogic and Zynga. The firm was established in June 2009 and is located in Menlo Park, CA. *
Peterson Communications for SnapLogic
Mark Peterson, 831-626-4400