Snowflake, the cloud-based data storage giant, has announced a $200 million expansion of its Startup Accelerator, aiming to support early-stage AI and cloud-focused startups building on the Snowflake Data Cloud.
The initiative follows Snowflake’s continued push into AI-driven enterprise solutions and cloud computing.
Backing AI and Industry-Specific Cloud Startups
Previously known as the Powered by Snowflake Funding Program, the Snowflake Startup Accelerator provides:
- AWS cloud credits for participating companies
- Investment in early-stage AI and industry-focused startups
- Technical mentorship and co-marketing opportunities
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VC Firms Join The Initiative
A portion of the $200M fund comes from new and existing VC partners, including:
- Bain Capital Ventures
- Blackstone Innovations Investments
- Bessemer Venture Partners
- Capital One Ventures
- General Catalyst
- Greylock Partners
However, the firm clarified that participating VC firms are not required to invest in accelerator startups, and funding is not guaranteed for every company.
Notable Accelerator Alumni
Graduates of the program include:
- Coalesce – A data transformation platform
- Landing AI – AI-powered industrial automation led by Andrew Ng
- Twelve Labs – A startup specializing in video intelligence AI
AI Expansion and Industry Investments
Beyond the accelerator, Snowflake is making aggressive AI investments, including:
- A new 30,000-square-foot AI hub at its Menlo Park campus
- A $20M AI upskilling program for professionals
- Expanded AI partnerships with Microsoft (OpenAI models) and Anthropic
- Acquisition of Datavolo, an AI-driven data pipeline firm
Strong Financial Performance
The company’s strategy appears to be paying off. In Q4 2024, the company reported $987 million in revenue, surpassing Wall Street expectations.
With $200M in fresh capital for its Startup Accelerator, Snowflake is doubling down on AI-driven innovation, ensuring its cloud ecosystem continues to power the next wave of enterprise startups.
