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Databricks Raises Massive $500M-Plus Series I At $43B Valuation

Sep 14, 2023 - news.crunchbase.com
AI-enhanced data analytics firm Databricks has secured over $500 million in a Series I funding round led by T. Rowe Price Associates, raising the company's valuation to $43 billion. New investors included Nvidia, Capital One Ventures, and Ontario Teachers’ Pension Plan, while existing investors such as Andreessen Horowitz, Baillie Gifford, and Tiger Global also participated.

Databricks, which develops tools to help companies view structured and unstructured data in one place, has recently achieved significant financial milestones, including surpassing a $1.5 billion revenue run rate. The company has also acquired MosaicML, an OpenAI competitor, for $1.3 billion. Since its inception in 2013, Databricks has raised more than $4 billion in total.

Key takeaways:

  • Databricks, an AI-enhanced data analytics company, has raised over $500 million in a Series I funding round led by T. Rowe Price Associates, valuing the company at $43 billion.
  • New investors in the round include Nvidia, Capital One Ventures, and Ontario Teachers’ Pension Plan, with existing investors like Andreessen Horowitz, Baillie Gifford, and Tiger Global also participating.
  • The company has recently surpassed the $1.5 billion revenue run rate with more than 50% revenue year-to-year growth and has over 10,000 global customers.
  • Databricks made a significant acquisition in June, purchasing OpenAI competitor MosaicML for $1.3 billion, and has raised more than $4 billion since its founding in 2013.
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