Databricks, a data-analytics software program firm, is finalising a brand new funding spherical that will worth the corporate at $100bn, up over 61% from its final spherical in December 2024.
The corporate has signed a time period sheet for a really late-stage, or Collection Ok, spherical, which it expects to shut quickly with backing from current traders.
Databricks co-founder and CEO Ali Ghodsi mentioned: “Databricks is benefiting from an unprecedented world demand for AI apps and brokers, turning firms’ information into goldmines.
“We’re thrilled this spherical is already over-subscribed and to associate with strategic, long-term traders who share our imaginative and prescient for the way forward for AI.”
The corporate didn’t disclose the scale of the funding; nevertheless, Reuters, citing an individual accustomed to the matter, reported that the corporate is trying to increase greater than $1bn from current traders together with Thrive Capital, Perception Companions and Andreessen Horowitz.
The corporate intends to make use of the brand new capital to speed up its AI technique — increasing Agent Bricks, investing in its new database providing Lakebase, and fuelling world development.
Throughout the June Information + AI Summit, Databricks unveiled Agent Bricks, a product designed to create production-ready AI brokers tailor-made to enterprise information, alongside Lakebase, a novel operational database (OLTP) primarily based on open-source Postgres and optimised for AI brokers.
The corporate additionally intends to make use of the funding to assist future AI acquisitions and deepen AI analysis.
Over the previous two quarters, the corporate has both launched or broadened partnerships with main companies together with Microsoft, Google Cloud, Anthropic, SAP, and Palantir.
At the moment, greater than 15,000 clients globally utilise the Databricks Information Intelligence Platform.
Constructed on an open-source framework, the platform goals to democratise entry to information and AI, simplifying the method of leveraging information for analytics and AI functions.
Databricks, headquartered in San Francisco, serves greater than 15,000 organisations worldwide, together with Block, Comcast, Condé Nast, Rivian, and Shell.
The corporate was established by the unique creators of Lakehouse, Apache Spark, Delta Lake, MLflow, and Unity Catalog.
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