NEW YORK--(BUSINESS WIRE)--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.
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.
“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.”
Knoema is the most comprehensive source of global decision-making data in the world. Our data technology solutions compress the complex data discovery to insight workflow from countless hours to minutes, saving clients time, energy and budget. Our data tools allow individuals and enterprises to discover, visualize, model, and present their data and the world’s data to facilitate more informed decisions and better business outcomes. For more information visit Knoema.com.
Snowflake delivers the Data Cloud — a global network where thousands of organizations mobilize data with near-unlimited scale, concurrency, and performance. Inside the Data Cloud, organizations unite their siloed data, easily discover and securely share governed data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single and seamless experience across multiple public clouds. Snowflake’s platform is the engine that powers and provides access to the Data Cloud, creating a solution for data warehousing, data lakes, data engineering, data science, data application development, and data sharing. Join Snowflake customers, partners, and data providers already taking their businesses to new frontiers in the Data Cloud. Snowflake.com.
Eldridge grows diversified businesses with a focus on Insurance, Credit, Technology, Real Estate, Sports and Media, and Consumer. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge please visit Eldridge.com.