Data analytics startup closes £4m venture funding round

Customer data firm Snowplow Analytics has closed a £4m funding round from research-led VC MMC Ventures.

The funding will support the company’s continued expansion in the US and Europe, and will help to further develop the technology behind its product.

Founded in 2012 by Alexander Dean and Yali Sassoon, Snowplow is a real-time event data technology that enables businesses to track, validate and model customer data across different platforms and channels.

Dean and Sassoon had previously experienced frustration when trying to unlock granular data from the likes of Google Analytics and Adobe Analytics.

This experience inspired the pair to develop an open-source platform that would aim to enable companies to collect their own customer behavioural data on a whole.

Alexander Dean, CEO and co-founder at Snowplow, said: “Snowplow was founded with the aim of freeing data teams from the constraints imposed by traditional analytics vendors.

“Every industry now has its ‘Amazon’, ‘AirBnB’ or ‘Uber’: a determined tech or product-led disruptor that is using data to drive insights.

“In this new world, there’s an increased demand for organisations to become much more data-informed. Snowplow helps data teams build that strategic foundation for their customer data.

“It’s fantastic to have the MMC Ventures team on board as our first VC investor. Ollie and the team showed huge engagement with our product and real enthusiasm for what we’re doing, so it felt an obvious, natural fit.

“We’re excited to see how their support will spur us on in this next phase of growth.”

The round was led by research-led VC MMC Ventures, whose extensive SaaS portfolio currently includes Signal AI, Storystream, and Peak.

The funding will support the company’s continued expansion in the US and Europe, as well as building out additional product features to support the growing need for enterprises to manage data quality, data meaning and data governance.