Data & AI Company Databricks to Raise $10 Billion at $62 Billion Valuation in Series J Funding Round with $8.6 Billion Raised, Investors Includes Thrive Capital, Andreessen Horowitz, DST Global, Singapore GIC, Insight Partners, WCM Investment Management, Ontario Teachers’ Pension Plan, ICONIQ Growth, MGX, Sands Capital & Wellington Management
18th December 2024 | Hong Kong
Data & artificial intelligence (AI) company Databricks is raising $10 billion at $62 billion valuation in Series J funding round with $8.6 billion raised. Databricks investors include Thrive Capital, Andreessen Horowitz, DST Global, Singapore GIC, Insight Partners, WCM Investment Management, Ontario Teachers’ Pension Plan, ICONIQ Growth, MGX, Sands Capital & Wellington Management. Databricks was founded in 2013 by Ali Ghodsi, Ion Stoica, Matei Zaharia, Patrick Wendell, Reynold Xin, Andy Konwinski and Arsalan Tavakoli-Shiraji. Databricks (17/12/24): “Databricks, the Data and AI company, today announced its Series J funding. The company is raising $10 billion of expected non-dilutive financing and has completed $8.6 billion to date. This funding values Databricks at $62 billion and is led by Thrive Capital. Along with Thrive, the round is co-led by Andreessen Horowitz, DST Global, GIC, Insight Partners and WCM Investment Management. Other significant participants include existing investor Ontario Teachers’ Pension Plan and new investors ICONIQ Growth, MGX, Sands Capital and Wellington Management. The company has seen increased momentum and accelerated growth (over 60% year-over-year) in recent quarters largely due to the unprecedented interest in artificial intelligence. To satisfy customer demand, Databricks intends to invest this capital towards new AI products, acquisitions, and significant expansion of its international go-to-market operations. In addition to fueling its growth, this capital is expected to be used towards providing liquidity for current and former employees, as well as pay related taxes. Finally, this quarter marks the first time the company is expected to achieve positive free cash flow … … The Databricks Data Intelligence Platform democratizes access to data and AI, making it easier for organizations to harness the power of their data for analytics, machine learning, and AI applications. Built on an open source foundation, the platform enables organizations to drive innovation to increase revenue, lower costs, and reduce risk. Customers use the Data Intelligence Platform to find and treat diseases and cancer earlier, identify new ways to combat climate change, detect financial fraud, develop pharmaceuticals faster, reduce time to mental health intervention, decrease local financial inequality and much more. Databricks’ momentum builds upon a year of global business expansion. To continue to serve its customers around the world, Databricks announced its new European regional hub in London and Asia Pacific and Japan (APJ) regional hub in Singapore, as well as an expanded presence in Latin America and the Middle East.”
“ Data & AI Company Databricks to Raise $10 Billion at $62 Billion Valuation in Series J Funding Round with $8.6 Billion Raised, Investors Includes Thrive Capital, Andreessen Horowitz, DST Global, Singapore GIC, Insight Partners, WCM Investment Management, Ontario Teachers’ Pension Plan, ICONIQ Growth, MGX, Sands Capital & Wellington Management “
Databricks – Databricks is the Data and AI company. More than 10,000 organizations worldwide — including Block, Comcast, Condé Nast, Rivian, Shell and over 60% of the Fortune 500 — rely on the Databricks Data Intelligence Platform to take control of their data and put it to work with AI. Databricks is headquartered in San Francisco, with offices around the globe and was founded by the original creators of Lakehouse, Apache Spark™, Delta Lake and MLflow.
Data & AI Company Databricks to Raise $10 Billion at $62 Billion Valuation in Series J Funding Round with $8.6 Billion Raised, Investors Includes Thrive Capital, Andreessen Horowitz, DST Global, Singapore GIC, Insight Partners, WCM Investment Management, Ontario Teachers’ Pension Plan, ICONIQ Growth, MGX, Sands Capital & Wellington Management
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