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.