Snowflake Service Provider Hakkoda Secures $5.6 Million in Funding

BOULDER, Colo., Nov. 3, 2021 /PRNewswire/ -- Hakkoda, the cloud data experts specializing in Snowflake, today announced it has received $5.6 million in funding to help companies extend the value of their Snowflake Data Cloud. The financing was led by Tercera, a growth-focused investment and advisory firm specializing in cloud professional services, with participation from several individual investors. The funds will be used to increase Hakkoda's presence in North America and Costa Rica, to expand its team of data engineers in Latin America, and to build vertical-specific solutions on the Snowflake platform.

Hakkoda is led by a seasoned team who has built and scaled global services organizations at companies like Appirio, Deloitte, KPMG and McKinsey. The company has a unique approach to services, with a scalable teams model that enables customers to acquire services and talent the same way they use cloud technology.

"Everyone wants a unicorn on their team, but with Hakkoda you get a unicorn team, one that offers a blended set of skills that scales and adapts to your needs," said Erik Duffield, CEO and co-founder of Hakkoda. "We started Hakkoda to provide the teams and technology customers need to get their data house in order, modernize their architecture, and drive real innovation and revenue back into the business with platforms like Snowflake."

"Snowflake has become a key part of the third-wave enterprise IT stack, presenting a huge opportunity for a pure-play like Hakkoda to tackle the needs of large enterprises in a different way than the global systems integrators," said Chris Barbin, CEO of Tercera. "The traction this team has seen in such a short period of time is a testament to Hakkoda's leadership, creativity and knowledge of the space."

Companies are spending billions on data and analytics each year but most still struggle with putting their data to work. A new research study released today from Hakkoda shows that data sprawl and talent scarcity have become significant barriers to innovation, with 98% of respondents reporting cost inefficiencies in their data programs and 94% reporting barriers to innovation. Ninety-seven percent of respondents had difficulty finding resources and talent for their data programs.

To tap into a growing source of data engineering talent, Hakkoda is building its flagship delivery center and customer innovation center in San José, Costa Rica and expects to hire 300 employees for that location. It is partnering with the Costa Rican government and organizations such as Rocket Girls to find, train and inspire the next generation of data talent.

Hakkoda's services were designed from the ground up to deliver faster results to customers. Its subscription-based scalable teams model offers customers on-demand access to experts specializing in data migration, architecture, analytics, engineering, machine learning, governance and application development, to be applied in areas where skills are most needed.

Hakkoda's new Snowflake Concierge service offers customers onboarding, governance, enablement and training to get teams to value faster and to drive long-term customer success. Through partnerships with Alation, DataRobot, Fivetran, and Unqork, Hakkoda can also help companies create high-quality, secure, no-code enterprise apps that put data to work. Hakkoda clients can earn Innovation Credits, which are acquired during a current project and applied to a future project to experiment and test unconventional ideas at no cost.

US Foods, one of America's largest food companies serving 300,000 restaurants and food service operators, is a long-time Snowflake customer and a recent Hakkoda customer.

"Snowflake is an incredibly powerful tool for tracking performance and anticipating future demand, but extracting the full value requires a different approach than legacy tech," said Chuck Sample, Vice President of Analytics and Data Science at US Foods. "Hakkoda's unique delivery model and deep expertise in data engineering allowed us to get value from the relationship in a matter of days. They're helping us use Snowflake in the way it was intended."

"The growth of the Snowflake ecosystem has been remarkable, and enterprises are finally realizing what they can create through the power of data," said John Donovan, former CEO and CTO of AT&T Communicaitons and an individual investor in Hakkoda. "Hakkoda brings a fresh approach, and empowers its customers to unlock the potential of Snowflake. I'm inspired by the Hakkoda leadership team, and excited to see how this infusion of capital propels the company forward to make an even greater impact on the world."

Additional resources:

• Check out Hakkoda's founding story
• Read Tercera's Q&A with Hakkoda founders Erik Duffield and Ha Hoang
• Find out more about Hakkoda's services
• Download the research report on the hidden costs of data sprawl
• Follow Hakkoda on Linkedin or Twitter

About Tercera
Tercera is an investment and advisory firm founded to accelerate the growth of people-centric businesses. Specializing in the $460 billion cloud professional services market, the Tercera team is composed of invested operators who know first-hand what it takes to build and scale a successful cloud services business. For more information, visit: https://www.tercera.io/.

About Hakkoda
Hakkoda is a U.S. and Costa Rica-based data engineering consultancy specializing in Snowflake. The company embraces a subscription model that works the way the cloud works ? providing on-demand access to data engineers, architects, machine learning and application development experts. Led by a founding team with more than 150 years of collective experience in data and IT services, Hakkoda can see problems and solutions in ways others can't. To learn more, visit https://hakkoda.io/.

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SOURCE Hakkoda, Inc.