Snaplogic Raises $165M At A $1B Valuation To Help Enterprises Integrate And Automate Their Disparate Apps And Data

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As more enterprises sign on to the trend of digital transformation and bringing more of their legacy work into the modern era of work, a company called SnapLogic, which has built a platform to integrate those apps and data, and to automate some of the activities that use them, has raised a big round of growth funding. The company has raised $165 million, money that it will be using to continue expanding its product — specifically the AI that underpins how it platform works — and for business development. The company has confirmed that the funding was made at a $1 billion valuation. The company has now raised $373 million to date. Indeed, providing both integration and automation from a single platform — and thus making procurement easier and costs presumably more competitive — has been one of the drivers of growth for SnapLogic, the company says. The chief revenue officer of Salesforce, which owns Mulesoft, admitted recently that the company was going through a “rough patch” partly due to staff turnover, and partly due to slowing sales growth. The firm has backed a number of scaled-up startups that have gone on to go public or seen big acquisition moves such as Airbnb, MDLIVE, Spotify, and Sprinklr. Indeed, SnapLogic today provides not just the tech to integrate and manage apps and data from one place, but also a range of automation features that can be applied to those assets.