Knoema Announces Acquisition by Eldridge and Partnership with SnowflakeKnoema Announces Acquisition by Eldridge and Partnership with Snowflake
Knoema joins Snowflake Data Marketplace, broadening its users’ access to data connections
Knoema, the premier data platform which makes the world’s data discoverable and usable, today announced an agreement to be acquired by Eldridge, a holding company with a unique network of businesses across finance, technology, real estate, and entertainment. Additionally, Snowflake, the provider of the Data Cloud, welcomes Knoema as a data provider in the Snowflake Data Marketplace, bringing thousands of rich, always up-to-date data sets to Snowflake customers.
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Knoema’s proprietary technology simplifies the complex workflow of turning data into actionable insights, enabling clients to work more efficiently, delivering cost savings and enabling better decision-making. With one of the world’s largest data repositories, comprising 3.8 billion KPIs sourced from over 56,000 data sets, Knoema is accessible via a single, navigable platform that can be seamlessly integrated into existing systems and workflows.
“Today, data is not only difficult to find, but also challenging to distill into usable information. By leveraging the right technology, organizations can dramatically reduce spend and increase the speed of generating insights.” said Charles Poliacof, CEO of Knoema. “The partnership with Snowflake and acquisition by Eldridge gives us the opportunity to help organizations across numerous sectors arm themselves with the data and data infrastructure to execute on their digital and data transformation initiatives, vital to long-term sustainability.”
With an addressable market of over $5 billion across its product offerings, Knoema is well-positioned to capitalize on substantial digital growth and IoT trends.
Additionally, Snowflake Ventures, the ventures arm of Snowflake, has made an investment in Knoema. Snowflake Ventures offers a new way for companies to link their growth and success to the Data Cloud, a global network where thousands of organizations mobilize data with near-unlimited scale, concurrency, and performance. Through this investment, Snowflake Ventures aims to help accelerate Knoema’s growth as a data partner, and make thousands of rich, always up-to-date data sets on a variety of topics such as economics, health, environment, education, agriculture, transportation, and more easily accessible to enterprises globally from Snowflake’s Data Cloud.
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“We are excited to partner with Knoema, accelerating the growth of the Data Cloud and bringing a wealth of open data sets to our customers,” Head of Corporate Development and Snowflake Ventures, Stefan Williams, said.
“We’ve already had the opportunity to leverage Knoema at Eldridge and experienced immediate productivity gains from the way the platform sources, manages, and derives insight from data,” said Michele Trogni, Operating Partner at Eldridge. “Knoema’s rapid time to market and depth of content complements and enhances an organization’s in-house data infrastructure, and we are super excited to see the value that it can unleash for its clients as we move forward.”
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