Snowflake has conjured another funding blizzard as the San Mateo, Calif.-based company announced a $479 million Series G financing round today on a $12.4 billion valuation. This latest round, co-led by new investors Dragoneer Investment Group and Salesforce Ventures, has more than tripled Snowflake’s previous valuation of $3.95 billion. 

The cloud-based data warehouse provider has a knack for raking in massive investments, previously having scored a $450 million funding round in October 2018. CEO Frank Slootman said in an interview with CNBC that the company hasn’t touched the $450 million it raised in that round. 

Snowflake provides data warehouse services using a cloud-based architecture. This is constructed as a central repository for data that can also be analyzed using business intelligence tools or other analytics applications. Data can be transferred between the customer and the cloud provider using dedicated private internet links like AWS Direct Connect, blurring the lines between what it means to be on premises or in the cloud. 

The company has more than 3,400 customers including Brex, ConAgra Foods, Domino’s, JetBlue, and Nationwide.

The funding comes as Snowflake continues taking Silicon Valley by storm as one of the fastest-growing businesses in the cloud category, partnering with three of the market’s largest public cloud providers, Amazon, Google, and Microsoft.

Further, the company has emerged as one of the most valuable venture-backed companies, and according to Forbes, is set to become one of tech’s most valuable private companies in the world, reflecting companies’ strong appetite for services that tap into the cloud. 

All of this begs the question: when will the company go public?

Salesforce, which has invested in several other enterprise software companies that went public in recent years as, CNBC reported, will assist Snowflake in developing its “content strategy,” according to Slootman. 

“We also welcome our partnership with Salesforce and look forward to the positive impact our technologies and services will deliver to our customers and the broader market,” Slootman said in a prepared statement. 

Perhaps there is a Snowflake acquisition in the works as Salesforce — which tracks and houses customer activity and data — would benefit from combining that information with data stored inside Snowflake, which can then be sent to a service like Salesforce’s Tableau for visualization.