The most recent funding spherical places the corporate’s valuation at $62bn, with Meta becoming a member of as a brand new strategic investor.
Following earlier studies, US software program firm Databricks has formally closed a multibillion-dollar funding spherical to put money into AI merchandise, acquisitions and growth.
The Sequence J funding of $10bn got here from current investor QIA, the sovereign wealth fund of the State of Qatar, together with new buyers together with Temasek and Meta.
In the meantime, Databricks closed a $5.25bn credit score facility led by JPMorgan Chase alongside Barclays, Citi, Goldman Sachs and Morgan Stanley, with participation from different main monetary establishments and different asset managers. This brings its complete to greater than $15bn and places the corporate’s valuation at $62bn.
In addition to investing in AI merchandise and expertise, the funding may even be used to supply liquidity for present and former workers and paying associated taxes.
Based greater than 10 years in the past, Databricks offers an information intelligence platform designed to make it simpler for organisations to make use of knowledge machine studying, analytics and AI purposes. Final 12 months, SiliconRepublic.com named it one of many tech start-ups to look at in 2024.
Co-founder and CEO of Databricks, Ali Ghodsi, stated the corporate acquired “overwhelming curiosity” in its newest funding spherical. “Organisations are modernising their knowledge and AI infrastructure as a result of they recognise the immense potential of generative AI,” he stated.
“Information intelligence is crucial to each unlocking this potential and to serving to enterprises attain their enterprise objectives.”
The corporate stated greater than 10,000 organisations around the globe, together with Block, Comcast, Condé Nast, Rivian and Shell, depend on its AI-powered knowledge intelligence platform.
In 2021, Databricks raised $1.6bn at a valuation of $38bn, changing into one of many many ‘decacorn’ start-ups in 2021, whereas in 2023, it raised greater than $500m in a Sequence I funding spherical.
Final 12 months, the corporate acquired Tabular – an information administration firm – in a deal reportedly valued at $2bn.
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