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The partnership between Io-Tahoe LLC and Snowflake Inc. represents an acknowledgement that the power of the cloud combined with intelligent automation is going to play a central role in the future of enterprise data management.
When it comes to data the needs are clear. Enterprises want data quality and a central repository where information can be accessed quickly at scale without the need for a lot of manual work.
The combination of Snowflake’s Data Cloud, where siloed data is united, governed and executed to serve diverse analytic workloads, and Io-Tahoe’s machine learning algorithms, which increase accuracy and speed in learning complex data relationships within an enterprise environment, offers a solution that is attracting customer interest.
Provided by Dow Jones
By Eliot Brown Nearly a decade ago, venture-capital firm Sutter Hill Ventures made a small wager on an idea for a cloud computing services company, helping found and fund Snowflake Inc. The bet paid off: Last month, Sutter Hill distributed a profit of nearly $12 billion on the less than $190 million it ultimately invested, as it transferred its shares in the company to its investors and partners, marking one of the most profitable investments ever in venture capital. The venture sector has long been defined by big wins on disruptive tech companies, balanced by far more numerous losing bets. But in recent months, an unusually large number of venture investments have logged multibillion-dollar profits, setting many firms up for their greatest returns since the dot-com boom of the late 1990s.