Databricks Secures \(10B Funding at \)62B Valuation Ahead of IPO
Databricks, the leading data analytics and AI platform, has raised a staggering $10 billion in its latest funding round, catapulting its valuation to $62 billion—a significant leap from its previous $43 billion valuation. This landmark investment solidifies Databricks’ position as a powerhouse in the enterprise AI and big data space.
Key Investors Behind the Mega-Round
The funding round attracted top-tier backers, including:
- Thrive Capital
- Andreessen Horowitz
- DST Global
- GIC
- Iconiq Growth
According to a CNBC report, this marks one of the largest venture rounds in history, with proceeds earmarked for strategic growth initiatives.
Strategic Use of Funds
Databricks plans to deploy this capital toward:
- Mergers & Acquisitions (M&A) to expand its technology stack
- Employee stock payouts to retain top talent
- Global expansion to capture international markets
IPO on the Horizon
This Series J round comes as Databricks accelerates toward its much-anticipated initial public offering (IPO). Founded in 2013 by seven UC Berkeley Ph.D. candidates, the company has evolved into a leader in:
- AI-powered analytics
- Big data processing
- Cloud-native tooling
Strong Financial Momentum
Databricks is hitting critical financial milestones:
- $3 billion revenue run rate expected in the quarter ending January 31 (marking its first positive free cash flow)
- 60%+ year-over-year revenue growth in the October quarter
This funding round not only validates Databricks’ market leadership but also sets the stage for its next chapter as a public company.
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