Databricks Raises $1.6 billion for Data Lake Expansion

San Francisco-based big data and artificial intelligence (AI) solutions firm Databricks has raised $1.6 billion in a Series H round of funding, which it will use to accelerate innovation and adoption of its data lakehouse. The round values the firm at $38 billion.

Founded by the team who created big data processing engine Apache Spark, Databricks offers a unified online platform for data engineering, machine learning, and analytics workloads. Resulting data can be shared and exported into a dynamic dashboard, and cells, visualizations, and notebooks can also be shared with role-based access control and exported in multiple formats including HTML and IPython Notebook.

New funding has been led by Counterpoint Global (Morgan Stanley), with participation from new investors including Baillie Gifford, ClearBridge Investments and UC Investments (Office of the Chief Investment Officer of the Regents of the University of California), as well as existing investors including Andreessen Horowitz, funds and accounts managed by BlackRock, Canada Pension Plan Investment Board, Coatue Management, Fidelity Management & Research, Franklin Templeton, GIC, Greenoaks, Octahedron Capital, funds and accounts managed by T. Rowe Price Associates, Tiger Global Management and Whale Rock Capital Management. This new round brings Databricks' total funding to almost $3.6 billion, adding to the $1 billion raised in February.

Ali Ghodsi (pictured), co-founder and CEO of Databricks, comments: 'This new investment is a reflection of the rapid adoption and incredible customer demand we're seeing for the Databricks Lakehouse Platform and underscores the industry and investor confidence in our vision - that lakehouse is the data architecture of the future. This marks a thrilling new chapter that will allow us to accelerate our pace of innovation and further invest in the success of data-driven organizations on their journey to the lakehouse.'

Web site: www.databricks.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.