Hakkoda Secures New Investment Capital to Drive Expansion into New Markets

To drive expansion in new markets, Hakkoda secures new investment capital. Also, former Salesforce executive joins to lead efforts in UK and Ireland.
May 24, 2023
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Hakkoda - New Investment Capital - Hakkoda Secures New Investment Capital to Drive Expansion into New Markets

NEW YORK – May 24, 2023 – Hakkoda, the cloud data experts specializing in Snowflake, today announced it has secured new investment capital from Tercera, a growth-focused investment and advisory firm specializing in cloud professional services, Lead Edge Capital, and several additional individual investors. The funds will be used to further Hakkoda’s leadership in the healthcare and financial services industries, and extend its data and AI capabilities deeper into marketing technology (MarTech) and logistics. Hakkoda will also be using the capital to expand into the UK, Ireland, and Portugal, where Hakkoda has begun building out a services delivery center. 

“We’ve seen the power of data and we know that the speed and accessibility of data determines the agility and innovation of business,” said Erik Duffield, chief executive officer at Hakkoda. “This has put Hakkoda on a rapid growth path and we are building on that demand and expanding into important markets. We experienced incredible growth last year and are excited to bring new and innovative offerings across the Atlantic.”

To drive its international expansion, Hakkoda named Stephen Barrett as Vice President of Growth for the UK and Ireland. In this role, Barrett will be responsible for growing and managing the local Hakkoda team and helping Hakkoda clients unlock the full potential of their data. He spent more than a decade at Salesforce, most recently as Vice President of Customer Transformation, Digital Customer Experience. With previous experience at companies including Ernst & Young, Position Technologies, and Model Metrics, Barrett uniquely understands how to successfully scale a services business and will bring his experience to bear for Hakkoda.

Hakkoda was recognized as the SI Americas Emerging Partner of the Year by Snowflake in 2022. With the addition of new customers, the firm is on track for 500% year-over-year growth this fiscal year. Hakkoda has become one of the most certified Snowflake partners in the Americas, with more than 100 SnowPro-certified data architects, engineers, and data scientists across the US, Canada, Mexico and Costa Rica.

“Hakkoda has demonstrated its ability to help businesses using the Snowflake Data Cloud to modernize their data stack and become data-driven organizations,” said Katie Ecklund, Senior Director of Partner Sales – Amers, at Snowflake. “The company has had great traction to date with its scalable teams model and expertise in financial services and healthcare. We look forward to working with Erik and the team as they expand into new markets.”

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 their website.

About Hakkoda

Hakkoda is a 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 their website

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