December 17, 2024:
Databricks Secures $10B, Eyes $62B Valuation - Databricks announced a $10 billion Series J funding round at a $62 billion valuation, led by Thrive Capital and Andreessen Horowitz. This funding supports AI product development, acquisitions, and global expansion for the company, which is known for its data lakehouse platform that blends data lakes and warehouses.
The company aims to boost its $3 billion revenue run rate and enhance its AI capabilities, notably through acquisitions like Mosaic AI. Databricks plans to go public in late 2025 and expects its first positive free cash flow this quarter.
