8 months ago
Databricks Secures $4B+ Funding, Hits $4.8B Run-Rate
Databricks is a company that helps businesses use data and AI.
They just got over $4 billion in new money from investors, making the company worth $134 billion.
This money will help them build better tools for businesses to use their own data with AI.
They also told everyone that they made $4.8 billion in the last year, which is a lot more than last year.
The company's boss, Ali Ghodsi, said this money will help businesses use AI in new ways.
Investors are happy because they think Databricks is doing well and will keep growing.
Databricks secured over $4 billion in Series L funding, valuing the company at $134 billion.
The company achieved a $4.8 billion revenue run-rate in Q3, with 55% year-on-year growth.
Databricks' AI products and Data Warehousing business each generated over $1 billion in annualized revenue.
The funding will be used to enhance data-intelligent applications, support employee liquidity, and invest in future AI acquisitions and research.
Investors are confident in Databricks' ability to translate AI innovation into business impact.
- Who
- Databricks
- What
- Secured $4 billion+ Series L funding, hit $4.8 billion revenue run-rate
- Where
- Global (led by Insight Partners, Fidelity, J.P. Morgan)
- When
- Q3 (specific date not mentioned)
- Why
- To support AI and data business growth, employee liquidity, future AI acquisitions, and research investments
Key facts
- Funding Round
- Series L
- Valuation
- $134 billion
- Revenue Run-Rate
- $4.8 billion
- Year-on-Year Growth
- 55%
- Key Investors
- Insight Partners, Fidelity Management & Research Company, J.P. Morgan Asset Management
- Annualized Revenue from AI Products
- $1 billion
- Annualized Revenue from Data Warehousing
- $1 billion
- CEO
- Ali Ghodsi
Quotes
Ali Ghodsi
Co-founder and CEO of Databricks
“Enterprises are rapidly reimagining how they build intelligent applications. With this investment, we’re helping organizations innovate with AI on their own data, at scale.”
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