AI startup Databricks raises $1 Billion Series G Investment valued at $28 billion
By MYBRANDBOOK
Databricks, an AI and data start-up company, based out of San Francisco announced a $1 Billion investment in response to the rapid global adoption of its unified data platform. The Series G funding, led by new investor Franklin Templeton, puts Databricks at a $28 billion valuation. with investments coming from Microsoft, Google and Amazon. Ali Ghodsi, CEO and Co-Founder of Databricks said, we see this investment and our continued rapid growth as further validation of our vision for a simple, open and unified data platform that can support all data-driven use cases, from BI to AI.
It develops technology that delivers improved analytics to cloud computing platforms, has some 5,000 customers, including 40 percent of Fortune 500 companies, which use the service for data engineering. This funding will accelerate Databricks’ innovation and allow the company to scale and support the rapid adoption of the lakehouse, which is quickly becoming the data architecture of choice for data-driven organizations around the world.
Franklin Templeton is excited to work with Databricks as they enter this next stage of their impressive journey. We’ve seen first hand their ability to help enterprises leverage data to better understand customer journeys, operationalize business processes and, ultimately, build competitive advantage rooted in data. We believe they have a strong, accomplished team and visionary platform, and believe that the future for Databricks is bright, with a clear leadership position and open-ended growth opportunity,” said Jonathan Curtis, Senior Vice President, Research Analyst and Portfolio Manager, Franklin Templeton.
“Azure Databricks continues to be an impressive solution that brings the latest advances in open, flexible and scalable data and AI capabilities to our customers,” said Scott Guthrie, Executive Vice President, Cloud + AI, Microsoft Corp. “Our investment underscores the vision we share with Databricks of simplifying data and AI for our customers. Together, we will continue to build on the success of Azure Databricks and seamless integrations across Azure data services to enable cloud-scale analytics and AI on Azure.”
Other existing and new Investors that participated in this funding round include: Discovery Capital, Dragoneer Investment Group, Founders Circle Capital, Geodesic, GIC, Green Bay Ventures, Greenoaks Capital, New Enterprise Associates (NEA) and Octahedron Capital.
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