Databricks closes $2.19bn funding round


By Dylan Bushell-Embling
Friday, 03 September, 2021

Databricks closes $2.19bn funding round

Data and AI company Databricks has closed a US$1.6 billion ($2.19 billion) Series H funding round, valuing the company at US$38 billion.

The funding round, led by Morgan Stanley’s Counterpoint Global, brings the company’s total funding to nearly US$3.5 billion.

Databricks plans to use the funding to further develop its Databricks Lakehouse platform, an open and unified architecture for data and AI. The company’s customers are building lakehouses on AWS, Microsoft Azure and Google Cloud.

Databricks co-founder and CEO Ali Ghodsi has welcomed the outcome of the funding round, which attracted both new and existing investors.

“This new investment is a reflection of the rapid adoption and incredible customer demand we’re seeing for the Databricks Lakehouse Platform and underscores the industry and investor confidence in our vision — that lakehouse is the data architecture of the future,” he said.

“This marks a thrilling new chapter that will allow us to accelerate our pace of innovation and further invest in the success of data-driven organisations on their journey to the lakehouse.”

As part of plans to accelerate adoption of its services, the company has meanwhile appointed former Salesforce executive Andy Kofoid as the company’s new President of Global Field Operations.

Image credit: ©stock.adobe.com/au/Vittaya_25

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