The data analytics platform Databricks has raised $10 billion in a funding round, increasing its valuation from $43 billion to $62 billion. Thrive Capital, Andreessen Horowitz, DST Global, GIC, and Iconiq Growth are among the backers.
According to a statement obtained by CNBC, the round is among the biggest venture rounds in history and will propel future mergers and acquisitions, employee stock payouts, and international expansion.
The massive “Series J” from Databricks precedes the company’s eagerly awaited initial public offering. Established in 2013 by seven UC Berkeley doctoral candidates, Databricks provides cloud tooling, big data analytics, and artificial intelligence (AI) to help businesses create applications driven by these technologies.
With $3 billion in revenue, Databricks anticipates producing positive free cash flow for the first time.
About Databricks: With the Data Intelligence Platform, Databricks democratizes insights to everyone in an organization. Built on an open lakehouse architecture, the Data Intelligence Platform provides a unified foundation for all data and governance, combined with AI models tuned to an organization’s unique characteristics. Now, anyone in an organization can benefit from automation and natural language to discover and use data like experts, and technical teams can easily build and deploy secure data and AI apps and products.
Contacts
Databricks
Rick Schultz
Chief Marketing Officer
1-866-330-0121