Snowflake Launches Secure Cloud Data Warehouse for Finance
Snowflake Computing has launched Virtual Private Snowflake, a version of its cloud data warehouse with hardened security and regulatory compliance for industries such as financial services.
Snowflake also said its customer Capital One has joined the latest round of financing, adding $5 million to bring the total Series D to $105 million, according to a Snowflake announcement on Wednesday. Snowflake has a total $210 million funding, with a headcount of about 250.
Snowflake provides a highly scalable SQL database that supports up to thousands of concurrent users. The new version is designed for financial services and similar industries with heightened security and regulatory compliance requirements.
"Financial services companies have additional considerations regarding security and compliance, and for those reasons they have been rightly conservative about moving to the cloud overall," Snowflake CEO Bob Muglia tells Enterprise Cloud News. The new version of Snowflake is designed to address those concerns.
All versions of Snowflake run on Amazon Web Services; the new version runs on AWS's Virtual Private Cloud. Virtual Private Snowflake (VPS) secures data with a customer-provided encryption key as well as Snowflake's own encryption key and user credentials. It encrypts data at rest and in transit.
Compliance includes SOC 2 Type 2, PCI DSS and HIPAA support.
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— Mitch Wagner Editor, Enterprise Cloud News