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SaaS company Snowflake to foray into public sector segment

Snowflake, a multi-cloud managed SaaS platform listed on NYSE, plans to foray into the public sector segment in India. The firm will also strengthen its presence in the start-up and enterprise segment, said Vimal Venkatram, MD at Snowflake India. 

Venkatram said that India is an important market for Snowflake as it has a strong customer base and a sizeable sales and support teams in the country.

“Going forward, we are investing in the public sector market. We will focus on going after public sector workloads,” he added. 

Snowflake established its office in early 2020. Currently, it serves customers across verticals—financial services, retail and consumer packaged goods, manufacturing, digital natives (start-ups).

Globally, the firm has 6,800 customers, a “huge chunk” of them are in India, according to Venkatram.

BYJU’s, Swiggy, Marico, Khatabook, Urban Company and Cars 24 are some of the start-ups that Snowflake works within India. Its employee base is present across Pune, Mumbai, Delhi and Bengaluru.

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Snowflake also intends to deepen its presence in the verticals it already has a footprint in by introducing new functionalities to their offering. It also intends to serve newer verticals.

“We want to drive value for even the prospects who may not have experienced the power of data cloud yet,” Venkatram said. The company’s revenue grew 83 per cent YoY to $497 million in Q2 FY23.

Venkatram said that Snowflake bets its growth on the rapid cloud adoption happening in India.

“A lot of customers are embracing the power of public cloud and the power of data and analytics at scale in India. The pandemic has been one of the largest disruptors, customers who never potentially looked at that for enabling access to applications and data,” he added. 

Snowflake enables customers to do away with management overheads, complexity and maintenance. The offering provides agility and flexibility as customers can store data based on their seasonal requirements. Additionally, cost is not an issue for the customers, as they prioritise the value that the offering creates, said Venkatram.  

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