Databricks, a San Francisco, CA-based Data and AI company, raised over $500m in Series I funding which valued it at $43 billion.
This establishes the price per share at $73.50.
The round was led by funds and accounts advised by T. Rowe Price Associates, Inc., which was joined by other existing investors, including Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, funds and accounts managed by Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, GIC, Octahedron Capital and Tiger Global, along with new investors Capital One Ventures, Ontario Teachers’ Pension Plan and NVIDIA.
Led by Ali Ghodsi, Co-Founder and CEO, Databricks is a Data and AI company whose lakehouse platform is used by more than 10,000 organizations worldwide — including Comcast, Condé Nast, and over 50% of the Fortune 500 — to unify their data, analytics and AI, and govern, manage and derive insights from enterprise data and build their own generative AI solutions.
The funding follows a Q2 (ended July 31, 2023), which includes the follwing milestones:
- Crossed $1.5B revenue run rate at over 50% revenue year-over-year growth with the second quarter
- Ended the quarter with more than 10,000 global customers, including >300 customers consuming at $1M+ annual revenue run-rate
- Achieved record Non-GAAP subscription gross margins of 85%
- Closed acquisition of MosaicML, a generative AI platform
- Delivered 20 product and feature releases at the Data and AI Summit in June with over 30,000 global attendees
FinSMEs
14/09/2023