Data analytics and AI software provider Databricks has successfully raised over $500 million in its Series I funding round, propelling the company’s valuation to an impressive $43 billion.
The VC funding round was spearheaded by T Rowe Price Associates, along with continued support from existing investors such as Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, and GIC, among others.
Ali Ghodsi, Co-Founder and CEO of Databricks, expressed enthusiasm about the collaborative efforts of Databricks and Nvidia in developing transformative AI technology, aiming to deliver significant business value and innovation to their customers.
Databricks’ acclaimed Lakehouse platform provides a unified ecosystem for data, analytics, and AI, allowing customers to effectively govern, manage, and gain insights from their enterprise data while expediting the creation of generative AI solutions.
With a user base exceeding 10,000 organizations globally, the Databricks Lakehouse Platform remains a trusted choice for unifying data, analytics, and AI operations.
Databricks has surged past a $1.5 billion revenue run rate, boasting a remarkable 50 percent year-over-year growth, with the second quarter showcasing the strongest quarterly incremental revenue growth for the company. This substantial funding and impressive growth underscore Databricks’ position as a formidable player in the data analytics and AI landscape.
