Databricks Raises $1 Billion In Funding At $28 Billion Post-Money Valuation

by NeoTech Post
Databricks Raises $1 Billion In Funding At $28 Billion Post-Money Valuation

Databricks, which operates an AI-powered cloud data platform, raised $1 billion in Series G funding at a $28 billion post-money valuation.

The funding round was led by Franklin Templeton with participation from Canada Pension Plan Investment Board, Fidelity Management & Research, and Whale Rock, Amazon Web Services (AWS), CapitalG, Salesforce Ventures, Microsoft, Andreessen Horowitz, Alkeon Capital Management, funds and accounts managed by BlackRock, Coatue Management, funds and accounts advised by T. Rowe Price Associates, and Tiger Global Management.

Other existing and new investors that participated in this funding round include Discovery Capital, Dragoneer Investment Group, Founders Circle Capital, Geodesic, GIC, Green Bay Ventures, Greenoaks Capital, New Enterprise Associates (NEA), and Octahedron Capital.

According to Databricks, the funding will allow the company to scale and support the rapid adoption of the lakehouse, which is quickly becoming the data architecture of choice for data-driven organizations around the world.

“We see this investment and our continued rapid growth as further validation of our vision for a simple, open and unified data platform that can support all data-driven use cases, from BI to AI,” said Ali Ghodsi, CEO and Co-Founder of Databricks.¬†

“Built on a modern lakehouse architecture in the cloud, Databricks helps organizations eliminate the cost and complexity that is inherent in legacy data architectures so that data teams can collaborate and innovate faster. This lakehouse paradigm is what’s fueling our growth, and it’s great to see how excited our investors are to be a part of it.”

Databricks serves than 5,000 organizations worldwide Рincluding Comcast, Condé Nast, Nationwide, and H&M.

Image Credit: Databricks