December 17, 2024:
Databricks Raises $10B, Eyes Upcoming IPO - Databricks has secured $10 billion in a Series J funding round, raising its valuation to $62 billion, with key investors like Thrive Capital and Andreessen Horowitz. This funding aims to support mergers, acquisitions, and global expansion. The company, known for its AI and big data analytics services, is planning an IPO soon.
Databricks predicts positive free cash flow with a $3 billion revenue run rate in the upcoming quarter. The company reported over 60% year-over-year revenue growth in the previous quarter, highlighting significant financial progress ahead of its public market debut.
