Databricks has announced its Series I funding, raising over $500 million.
This funding values the company at $43 billion and establishes the price per share at $73.50.
The series is led by funds and accounts advised by T. Rowe Price Associates, Inc., which is joined by other existing investors, including Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, funds and accounts managed by Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, GIC, Octahedron Capital and Tiger Global along with new investors Capital One Ventures, Ontario Teachers’ Pension Plan and NVIDIA.
“The commitment from long-term focused strategic and financial partners reflects Databricks’ continued momentum, the rapid customer adoption of the Databricks Lakehouse, and the success customers are seeing from moving to a unified data and AI platform,” said Ali Ghodsi, Co-Founder and CEO of Databricks. “Databricks and NVIDIA are building transformative AI technology, and we’re excited about the business value and innovation we can bring to our customers.”
“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.”
“Data and AI have rapidly become the centerpiece of many business strategies. 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. We’re proud to extend our investment at such a pivotal time for the company, its customers, and the data and AI industry.” – Alan Tu, Lead Private Equity Analyst, T. Rowe Price Associates, Inc.
“Teachers’ Venture Growth is excited to invest in Databricks and sees tremendous growth potential for the business as enterprises increasingly deploy AI across their operations. As investors focused on long-term value creation, we look forward to working with Ali and Databricks’ strong management team on the next phase of their growth journey.” – Olivia Steedman, Executive Managing Director, Teachers’ Venture Growth at Ontario Teachers’.
