Databricks Raises More Than a Billion-and-a-Half Series H Funding Round

Databricks Raises More Than a Billion-and-a-Half Series H Funding Round

Source: Databricks

Databricks recently announced a Series H funding round worth a whopping $1.6 billion, bringing the company’s valuation to $38 billion. Databricks will use the funding to continue driving innovation in and adoption of the data lakehouse. The funding round was led by Counterpoint Global with participation from new and existing investors. Databricks customers are building lakehouses on AWS, Microsoft Azure and Google Cloud to support every data and analytics workload on a single platform. Databricks raised $1 billion in pre-IPO funding in February.

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Databricks offers a unified analytics platform that allows users to prepare and clean data at scale and continuously train and deploy machine learning models for AI applications. The product handles all analytic deployments, ranging from ETL to model training and deployment. It is also available as a fully managed service on Microsoft Azure and Amazon Web Services.

The Series H round brings Databricks’ total funding to more than $3.5 billion. under new President of Global Field Operations Andy Kofoid’s leadership, the company will invest to accelerate the adoption of the Databricks Lakehouse Platform globally, by entering new markets, enabling and growing its partner ecosystem, and building a broad catalog of industry solutions.

In a media statement on the news, Databricks co-founder and CEO Ali Ghodsi said: “This new investment is a reflection of the rapid adoption and incredible customer demand we’re seeing for the Databricks Lakehouse Platform and underscores the industry and investor confidence in our vision – that lakehouse is the data architecture of the future. This marks a thrilling new chapter that will allow us to accelerate our pace of innovation and further invest in the success of data-driven organizations on their journey to the lakehouse.”

Check out the Databricks blog to learn more.

Timothy King
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