Snowflake Ventures, a corporate venturing subsidiary of data analysis software provider Snowflake, has announced it will invest an undisclosed amount in US-based data discovery platform developer Knoema.
Founded in 2011, Knoema provides a data repository used by businesses to better understand markets and inform decision-making. The Snowflake funding was disclosed alongside news Knoema has agreed to an acquisition by diversified holding company Eldridge Industries.
Knoema’s database has more than 3.8 billion data points sourced from global organisations including the International Monetary Fund, World Health Organization, World Bank and United Nations.
The financial details of the transasction were not disclosed, though Snowflake Ventures typically invests between $1m and $5m per deal. Snowflake customers will now be able to access Knoema’s data through the Snowflake Data Marketplace.