Data analysis company using AI data brick Raised over $500 million in Series I led by funds and accounts advised by . T. Rowe Price Associates.
The deal valued the company at $43 billion, an increase over the $38 billion valuation San Francisco-based Databricks received after raising $1.6 billion in its Series H below. morgan stanley’s counterpoint global In 2021.
Databricks creates tools and products that allow businesses to view both structured and unstructured data in one place without having to move between different systems.
New investors in round include semiconductor manufacturing giants Nvidia — I’ve been busy investing in AI startups lately — capital one ventures and Ontario Teachers’ Pension Plan.Also includes existing investors participating in the new round. Andreessen Horowitz, bailey gifford, clear bridge investmentFunds and accounts managed by counterpoint global, Fidelity Management & Research Co., Ltd., franklin templeton, GIC, octahedral capital and tiger global.
“Commitments from long-term focused strategic and financial partners reflect Databricks’ continued momentum, rapid customer adoption of Databricks Lakehouse, and customer success with the transition to a unified data and AI platform. ” said Databricks co-founder and CEO. Ali Godoshi said in release. “Databricks and his Nvidia are building innovative AI technology and we are excited about the business value and innovation we can deliver to our customers.”
milestone
The new financing is not surprising, but goes against some current trends where companies have to reduce their valuations to raise cash, or where companies are unable to raise significant growth capital at all. There is.
But Databricks was one of the most valuable private companies in the world even before this new round, and is often mentioned. IPO prediction. It looks like the IPO will have to wait, as the company’s coffers are brimming with fresh capital.
The company recently achieved several impressive financial milestones, including topping a $1.5 billion revenue run rate in the second quarter ended July 31 with more than 50% year-over-year revenue growth. client.
The company openly talked About passing the $1 billion annual revenue milestone.
Databricks also huge acquisition Purchased in June OpenAI competitor player Mosaic ML For $1.3 billion.
Since its founding in 2013, Databricks has raised more than $4 billion. per crunch base.
References:
figure: Dom Guzman
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