Databriks, a San Francisco, CA-based data and AI company, is raising $10B in Series J funding, at $62B valuation.
The company has completed $8.6 billion to date. The round was led by Thrive Capital, Andreessen Horowitz, DST Global, GIC, Insight Partners and WCM Investment Management. Other participants included existing investor Ontario Teachers’ Pension Plan and new investors ICONIQ Growth, MGX, Sands Capital and Wellington Management.
The company intends to use the funds to further enhance its AI products, acquisitions, and expansion of its international go-to-market operations. In addition to accelerating its growth, this capital is expected to be used towards providing liquidity for current and former employees, as well as pay related taxes.
Led by CEO Ali Ghodsi, Databricks provides a platform which allows over 10,000 organizations worldwide, including Block, Comcast, Condé Nast, Rivian, Shell and over 60% of the Fortune 500, to harness the power of their data for analytics, machine learning, and AI applications to find and treat diseases and cancer earlier, identify new ways to combat climate change, detect financial fraud, develop pharmaceuticals faster, reduce time to mental health intervention, decrease local financial inequality and more.
The company, which has offices around the globe, expects to cross $3B in revenue run rate and achieve positive free cash flow in fourth quarter.
To continue to serve its customers around the world, Databricks announced its new European regional hub in London and Asia Pacific and Japan (APJ) regional hub in Singapore, as well as an expanded presence in Latin America and the Middle East.
