In a blog on the HyperFinity website, the company confirmed that the investment, which is for an undisclosed amount, would help expand HyperFinity’s business.

HyperFinity runs a decision intelligence platform to help generate insights and support data-informed decision making, and already worked with Snowflake’s Retail Data Cloud tool.

The deal means HyperFinity joins fellow Snowflake Ventures portfolio members DataIku, Matillion, Sigma and ThoughtSpot.

The HyperFinity blog added: “We have immediately put Snowflake’s investment to work.

“Our retail customers and prospects have also provided clear direction on their priority use cases. First-party data activation for retail media; pricing and intelligent markdown, and demand forecasting to minimise excess stock all feature.

“Snowflake’s investment helps us double down on developing key product features, supporting our customers with expert consultancy, and creating demand for our decision intelligence platform.”