Databricks, a company specializing in data and AI, has just announced a new round of financing in the amount of 1.6 billion dollars from numerous investors, including Counterpoint Global – Morgan Stanley. With this new financing, the company’s valuation is positioned at $ 38 billion. The lakehouse-friendly firm is looking to accelerate the implementation of this data and AI architecture while taking its innovations to the next level.
A company specializing in data and AI management through its lakehouse platform
Databricks was founded in 2013 by the founders of Apache Spark, Delta Lake and MLflow. The company made its mark by quickly delivering a cloud-based lakehouse platform, an open, unified architecture for data and AI that brings the reliability, governance and performance of a data warehouse directly into the data lakes where most companies already store all their data.
While companies often tend to move their data, for different use cases, out of the data lake and between various disconnected and legacy systems, Databricks’ customers lakehouse on AWS, Microsoft Azure and Google Cloud to support all data and analytics workloads on a single platform. By leveraging this process, companies avoid complex architecture, reduce infrastructure costs and increase data team productivity.
A record-breaking round of financing for a $1.6 billion fundraising
Databricks announces the completion of a $1.6 billion Series H round of financing. Led by Counterpoint Global – Morgan Stanley, other investors in the round included Andreessen Horowitz, funds and accounts managed by BlackRock, Canada Pension Plan Investment Board, Coatue Management, Fidelity Management & Research, Franklin Templeton, GIC, Greenoaks Capital, Octahedron Capital, funds and accounts managed by T. Rowe Price Associates, Inc. and Tiger Global Management.
Dennis Lynch, head of Counterpoint Global, commented on the participation of the investment fund and its lead in the round of financing that made the fundraising possible:
“We are extremely excited to partner with the team at Databricks whose lakehouse platform is reinventing analytics at the speed and scale that customers now demand. We believe the company is well positioned to become a platform of choice among forward-thinking companies looking to turn valuable data into strategic insights.”
Jagdeep Singh Bachher, Chief Investment Officer of UC Regents for UC Investments discusses the qualities of Databrick that enabled it to receive this new funding.
“Databricks is an outstanding example of the innovation and forward thinking that is flourishing throughout the UC system, and we are excited to support the next phase of this meteoric journey that first began in Berkeley. This investment is a testament to the tremendous opportunity we see for Databricks to shape the future of data with the creation of the data lakehouse category. We look forward to partnering with the Databricks team to enable thousands of upcoming UC students to be the next generation of innovators.”
What does the future hold for Databricks? A major influx for greater adoption of the lakehouse
This new round of funding brings Databricks’ total funding to nearly $3.5 billion. The money will be used to accelerate the company’s lead in the huge and growing data lakehouse market. Ali Ghodsi, Co-Founder and CEO of Databricks welcomes the funding round and shares his vision for the future:
“This new investment reflects the rapid adoption of the Databricks Lakehouse platform and the incredible demand from customers. It also underlines the confidence of the market and investors in our vision that the lakehouse is the data architecture of the future. This marks an exciting new chapter that will allow us to accelerate our pace of innovation and invest further in ensuring that data-driven enterprises succeed in their journey to the lakehouse architecture.”
In conjunction with the fundraising, Databricks announced the appointment of Andy Kofoid, a former Salesforce executive, as President of Global Field Operations. With his arrival, the company will invest in accelerating the adoption of Databricks’ lakehouse platform globally, entering new markets, supporting and growing its partner ecosystem, and building a broad catalog of solutions by industry.
Translated from Databricks annonce une levée de fonds de 1,6 milliard de dollars pour accélérer l’adoption de l’architecture lakehouse
