Another Huge Funding and Valuation for Databricks

Databricks has confirmed the completion of another round of funding - a rare Series L - amounting to more than $4 billion and valuing the company at around $134 billion.

Databricks is headquartered in San Francisco, and was founded by the original creators of Lakehouse, Apache Spark, Delta Lake and Mlflow. Its Data Intelligence Platform brings together data, analytics and AI/machine learning to help clients govern, manage and derive insights from enterprise data and build their own generative AI solutions.

The raise, rumored a month ago, is the company's third in less than a year, and will help it continue and accelerate its moves to develop products including a database for AI agents, an AI agent platform, and apps to help client firms create and roll out AI applications. According to techcrunch.com, Databricks said this week its ARR is now above $4.8 billion, up 55% in a year, and with more than $1 billion coming from its AI products.

Some of the new funding will be used to recruit thousands of developers in Asia, Europe and Latin America, as well as a number of AI researchers, according to reports in the Wall Street Journal.

The round was led by Insight Partners, Fidelity and J.P. Morgan Asset Management; and supported by more than a dozen other investors including Andreessen Horowitz and BlackRock.

The company is led by co-founder and CEO Ali Ghodsi (pictured) and is online at www.databricks.com .

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