Snowflake Acquires Stake in OpenAP to Establish Data Cleansing Room for Marketers


Snowflake Ventures, the venture capital arm of data cloud company Snowflake, has announced an investment in advanced TV advertising firm OpenAP.

The deal’s financial details, which are said to give the data leader a 5% stake, were not made public. The OpenAP data hub, according to the companies, will act as a centralized location where publishers can store and share anonymized cross-platform audience data.

The most recent investment, according to Snowflake, will aid OpenAP in quickening the development and time to market of the clean room solution. The data juggernaut also becomes the first non-publisher to acquire a stake in OpenAP as a result of the move.

Read More: Snowflake acquires stake in OpenAP to set up data clean room for advertisers

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