Databricks, a San Francisco, CA-based provider of unified data analytics solutions, raised $400m in Series F funding.
The round, which valued Databricks at $6.2 billion, was led by Andreessen Horowitz’s Late Stage Venture Fund with participation from funds and accounts managed by BlackRock, Inc., funds and accounts advised by T. Rowe Price Associates, Inc., and Tiger Global Management, Alkeon Capital Management, Coatue Management, Dragoneer Investment Group, Geodesic, Green Bay Ventures, Microsoft Corporation, and New Enterprise Associates.
The company intends to use the funds to continue to scale R&D and expand customer adoption across the globe.
Led by Ali Ghodsi, co-founder and CEO, Databricks provides a Unified Data Analytics platform for organizations to make data ready for analytics, empower data-driven decisions across the organization, and adopt machine learning.
The company’s global customer base has thousands of organizations including Comcast, Shell, Expedia, and Regeneron.
Databricks claims it has grown annual recurring revenue (ARR) well over 2.5x over the past year and has gone from almost no revenue to a $200 million revenue run rate in less than four years.
Specifically, with the new funds, Databricks will:
– Invest €100m in its recently announced European Development Center in Amsterdam over the next three years;
– Build dedicated engineering teams to advance the open source technologies it invented recently for data management and machine learning: Delta Lake, MLflow, and Koalas;
– Accelerate global growth, which includes expansion in Europe, Middle East and Africa; Asia Pacific; and Latin America.
FinSMEs
23/10/2019