Snowflake, makers of a cloud data warehouse service, announced a new virtual private product that should appeal to highly regulated companies like financial services and healthcare.
In fact, the company also announced that one of the product’s earliest customers, Capital One, will be investing $5 million in Snowflake as a strategic investor as a result of this new approach.
Most Snowflake customers use the product in a multi-tenant cloud where users share resources across the service, but the new Virtual Private Snowflake (VPS) service gives customers a dedicated set of resources, says company CEO Bob Muglia.
“The key is that it’s dedicated. We are running the data privately and have encrypted computers fully dedicated to [the individual] customer,” Muglia told TechCrunch.
Snowflake has created this private version of its product to meet the very specific needs of regulated customers. In practice,…