Snowplow raises $ 40 million to help businesses “create” data for AI and analytics

London-based Snowplow Analytics announced today that it has raised $ 40 million in Series B funding to enable companies to create behavioral datasets for AI and BI use cases.

Most organizations working on artificial intelligence (AI) and advanced analytics projects tend to use data from existing systems such as Google Analytics and CRM. These sources provide a lot of information to process, but they are also nonsense in nature. That is, the data you provide comes with different structures (imagine different field types) and different levels of granularity, quality, and integrity.

This makes it difficult for organizations to use the data as-is and adds a technically difficult and time-consuming element of data wrangling to the process. The team needs to transform the data into a standardized format for cleanup, organization, and use. .. In addition, tracking the data lineage from a collection of black-box SaaS applications is very difficult and poses compliance issues.

Creating data using Snowplow

To solve this problem, Snowplow is a structured behavioral data asset (customer behavior, customer behavior and decisions, and the context of those behaviors and decisions) customized for specific AI and BI. Provides a platform for enterprises to generate). Maintains full compliance with the application at the same time.

“Behavioral data generation is the interconnecting of events that customers, machines, or applications may witness over time, such as complying with third-party privacy rules in Europe. You can analyze your behavior in an accurate and safe way, “Snowplow co-founder and CEO Alex Dean told Venture Beat.

The platform delivers AI / BI-enabled data directly to the customer’s data warehouse or lakehouse. This common schema can be used for model training, streaming for real-time applications, and enhanced with third-party data and systems. Future use cases. This means that you don’t have to invest heavily in searching, cleaning, and preparing data for analysis.

Users handle all aspects of the platform through a dedicated console. This includes defining a policy on how to first create this data and enabling its sharing and management. According to the company, more than 10,000 companies, including Strava, CNN and Software.com, are already using Snowplow to create data for a variety of AI and analytics applications.

“Snowplows are unique in that they solve problems with useful and accurate data. Other companies create behavioral data (such as web and mobile), but usually enhance their applications with their own schema. For example, digital analysis solutions (Google Analytics, etc.) and CDPs (Segment, mParticle, etc.). However, unlike these solutions, Snowplow technology provides the best AI and BI-enabled data in the data warehouse (Segment, mParticle, etc.). Or the focus is on powering data applications in a universal data language by delivering directly to (or a lakehouse). This is not an export of a powered dataset. Something different. To do, “Dean added.

Plan in advance

With this round of funding, led by global venture capital firm NEA, Snowplow will focus on expanding its footsteps both in the domestic market and abroad. As part of that, the company plans to expand its team to provide support for an ever-growing number of data types.

“There are many industry-specific use cases that will benefit from this type of data approach … we plan to announce more on our roadmap in the fall,” said the CEO.