The funding will hopefully accelerate their AI-powered data and app integration capabilities
The enterprise automation company, SnapLogic, recently announced that it had raised $165 million for a one billion dollar valuation. Their AI integration PaaS should benefit the most from this turn of events. This solution will help companies integrate their apps and data and automate activities that would otherwise be done manually.
Sixth Street Growth led the round, but SnapLogic has not disclosed the name of the other investors. In the previous rounds, they have secured investments from Arrowroot Capital, Golub Capital, Andreessen Horowitz, Vitruvian, Capital One, Microsoft, Ignition Partners, and other investors. So far, SnapLogic has managed to raise $373 million
Future of the Enterprise Automation Market
The enterprise automation market is booming. Tech giants such as Emirates and Siemens are processing 2.7 trillion customer documents across 3.1 million processing pipelines. Fulfilling these requests through manual methods is now impossible, and organizations need manual techniques to complete these processes in a timely and effective manner.
Within the pursuit of automation, AI seems to be the forerunner. Many experts believe that AI can help fulfill mundane tasks that would otherwise be done manually, wasting time and resources and increasing human error.
SnapLogic offers a single platform to unlock data, applications, and APIs, promoting AI and a hybrid workforce. The funding has set them on the right path, and organizations looking towards automating their systems with the help of AI now have a platform that can solve all their multi-cloud operational needs. The funding is set to grow, and SnapLogic will become the most prominent enterprise automation solution.