Data integrator SnapLogic raises $37.5 million from Microsoft, Silver Lake

Reuters

(Reuters) - Data integrator SnapLogic said on Thursday it raised $37.5 million in funding from Microsoft Corp and Silver Lake Waterman, which it plans to use to accelerate growth and for expansion. Silver Lake Waterman, the growth capital arm of Silver Lake, focuses on providing flexible capital to later-stage growth tech companies. SnapLogic allows businesses to integrate large amount of data in a single cloud platform, helping them run applications faster. The San Mateo, California-based company's previous investors include Ignition Partners, Triangle Peak Partners and Andreessen Horowitz. Andreessen Horowitz, part of SnapLogic's first outside funding round of $2.3 million in 2009, has a portfolio of successful technology companies including Facebook Inc, Airbnb and Lyft. SnapLogic was founded in 2006 by Gaurav Dhillon, former chief executive of business software maker Informatica. SnapLogic, whose customers include Adobe Systems Inc and AstraZeneca Plc, has reported that third-quarter bookings grew 182 percent from the second quarter. (Reporting by Kshitiz Goliya in Bengaluru; Editing by Savio D'Souza)