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The Venture Codex

Snowflake Ventures

Suite 3A, 106 East Babcock Street, Bozeman, MT, 59715, United States

Overview

Snowflake Ventures invests in growth-stage companies that demonstrate a commitment to mobilizing data, providing value to its customers, and expanding opportunities for the data cloud.

Total investments
51
Lead investments
3
Investments · 12mo
10
Active investors
6

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Jedify

    Participated · Series A · Jun 2026

    Jedify’s platform connects to enterprises’ knowledge sources via APIs to build a multi-dimensional context graph that captures relationships across entities, data, people, permissions, workflows, and terminology. Sources include databases, data warehouses and lakes, SaaS apps, BI tools, unstructured documents, code bases, Slack channels, and meeting recordings. The company’s context graph is model-agnostic, updates in real time, and is designed to inherit and enforce permissions from identity systems, file systems, SaaS tools, and databases while offering observability and governance tools. Jedify is targeting mid-market and large enterprise customers with mature data stacks and multiple data stores, and has seen interest from sectors such as gaming, industrials, and consumer packaged goods. At the time of the report it had between 10 and 20 early customers, including The Weather Company. Financially, the company has raised a total of about $33 million following the $24 million Series A.

  • Gray Swan

    Participated · Series A · Jun 2026

    Gray Swan builds an AI security platform that combines real-time protection (Cygnal), automated adversarial testing/red-teaming (Shade), and a global red-teaming community (Arena) to detect and prevent dangerous model and agent behavior. Cygnal enforces custom enterprise policies in real time, while Shade runs automated pre-deployment adversarial tests as part of CI/CD, and Arena crowdsources attacks from more than 15,000 researchers to generate over one million attack trajectories. The company says its benchmarks are embedded in the safety evaluation processes of leading frontier labs and that it is cited in 11 recent frontier model system cards, including those from Anthropic, OpenAI, and Meta. Gray Swan works with over 20 customers and has partnerships with platforms such as Snowflake, including a native integration for runtime AI protection. The recent $40M Series A will fund go-to-market scaling, deeper lab and platform partnerships, and team growth to support enterprise deployments.

  • OpenRouter

    Participated · Series B · May 2026

    OpenRouter operates as middleware between developers and more than 300 open-source and proprietary large language models, offering a unified API that lets developers compare quality, price, and latency and dynamically route tasks to different models. The platform charges a percentage service fee when developers purchase credits to run models, generating revenue that the article reports has grown from about $10 million annualized in October to over $50 million annualized currently. Founded in 2023, the company enables multi-model architectures by allowing applications to call different models for different task types and supports developers in optimizing cost and performance. The article highlights OpenRouter's neutral positioning and broad model coverage as competitive advantages versus cloud providers and startups that may favor their own models. It faces competition from cloud giants offering multi-model access and startups like PortKey, and must manage neutrality and supplier relationships as it scales. The company is positioned as addressing developer demand for simpler multi-model orchestration amid growing AI application complexity.

  • Dust

    Participated · Series B · May 2026

    Dust builds a shared collaboration surface and orchestration platform where teams and AI agents work together with shared projects, context, conversations, to-dos, notifications, and cloud compute for processing files and generating documents. An intelligence layer integrates more than 100 data sources and common tools so agents can act on company context, while built-in memory and reinforcement loops allow agents to learn and improve over time. The platform includes enterprise governance features—granular permissions, cost and usage monitoring, full audit trails, and agent analytics—and is SOC 2 Type II certified and GDPR compliant with EU and US data residency; Dust also contractually guarantees that customer data is not used to train models. Dust reports usage by more than 3,000 organizations, over 300,000 deployed agents, 70% weekly active usage, and zero churn in 2025. The company was founded by Gabriel Hubert and Stanislas Polu, who previously worked together at Stripe and in AI research, and has raised over $60 million to date. Going forward, Dust plans to focus on automation-driven agent improvement, deeper human-agent collaboration primitives, and enterprise-grade governance and orchestration infrastructure.

  • RelationalAI

    Led · Equity · Dec 2025

    RelationalAI develops technology that embeds decision intelligence directly inside the Snowflake AI Data Cloud. By doing so, the company allows enterprise users to query and reason over live data while maintaining security and scalability. The platform targets use cases that leverage artificial intelligence, generative AI, and data-driven decision-making. RelationalAI positions itself as an enterprise SaaS solution focused on compliance and large-scale data workloads. Founder and CEO Molham Aref leads the initiative to integrate tightly with Snowflake’s ecosystem, signaling a go-to-market strategy centered on cloud data partnerships. The company’s recent strategic funding provides additional capital to advance its product development and expand market adoption. Financial details beyond the new capital infusion have not been disclosed.

Team

  • Benoit Dageville

    Chairman and CEO

    LinkedIn
  • Thierry Cruanes

    Co-Founder and Architect

    LinkedIn
  • Frank Slootman

    President of Products and Co-Founder

    LinkedIn
  • Anupam Datta

    Co-Founder, President, and Chief Scientist

    LinkedIn