Cloud database startup Snowflake Computing announced a new $450 million funding round at a pre-money valuation of $3.5 billion, according to a company press release. Snowflake raised a $263 million Series E round in January (which we were first to report) at a $1.5 billion valuation and has raised a total of $923 million since its founding in 2013.
Snowflake sells “data warehouse” software, a type of database built for speedy information retrieval that is typically used for analytics applications. Snowflake competes with Amazon Web Services, Google, Oracle and several other companies in this market segment. Snowflake claims its software can store more data and run more database queries concurrently than rivals’ data warehouse products.