IANS | 17 Sep, 2023
Data analytics and AI software maker Databricks has raised over $500
million as part of its Series I funding, taking its valuation to $43
billion.
The series is led by T Rowe Price Associates and existing
investors, including Andreessen Horowitz, Baillie Gifford, ClearBridge
Investments, funds, and Counterpoint Global (Morgan Stanley), Fidelity
Management & Research Company, Franklin Templeton, GIC, among
others.
“Databricks and Nvidia are building transformative AI
technology, and we’re excited about the business value and innovation we
can bring to our customers,” said Ali Ghodsi, Co-Founder and CEO of
Databricks.
The Databricks Lakehouse unifies data, analytics, and
AI on a single platform so that customers can govern, manage, and
derive insights from enterprise data and build their own generative AI
solutions faster.
"Enterprise data is a goldmine for generative
AI," said Jensen Huang, founder and CEO of Nvidia. “Databricks is doing
incredible work with NVIDIA technology to accelerate data processing and
generative AI models.”
More than 10,000 organisations worldwide rely on the Databricks Lakehouse Platform to unify their data, analytics, and AI.
“Databricks
has not only pioneered the Lakehouse category with a world-class team
and product, but it is now also at the forefront of Generative AI for
the enterprise,” said Alan Tu, lead private equity analyst, T. Rowe
Price Associates.
Databricks crossed $1.5 billion revenue run rate
at over 50 per cent revenue year-over-year growth with the second
quarter representing the strongest quarterly incremental revenue growth.
