December 17, 2024:
Databricks Raises $10B, Eyes IPO - Databricks has secured $10 billion in a Series J funding round, raising its valuation to $62 billion. Major investors include Thrive Capital and Andreessen Horowitz. This investment precedes an anticipated IPO and will support mergers, acquisitions, and international expansion. Founded in 2013, Databricks specializes in AI and big data analytics.
The company forecasts its first positive free cash flow, with a revenue run rate of $3 billion by January's end. Databricks also reports a 60% revenue growth in the October quarter.
