Databricks raises $500 million in Series I funding

Databricks Series I funding: Data and AI company Databricks on Friday anunced that it raised over $500 million in its Series I funding. With this funding, company’s valuation has stands at $43 billion, with price per share standing at $73.50. 

In a statement, Databricks shared that series was led by funds and accounts vised by T Rowe Price Associates, which is joined by or existing investors, including Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, funds, and accounts mand by Counterpoint Global (Morgan Stanley), Fidelity Manment & Research Company, Franklin Templeton, GIC, Octahedron Capital and Tiger Global. series also saw new investors Capital One Ventures, Ontario Teachers’ Pension Plan, and NVIDIA. 

“ commitment from long-term focused strategic and financial partners reflects Databricks’ continued momentum, rapid customer option of Databricks Lakehouse, and 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 techlogy, and we’re excited about business value and invation we can bring to our customers.” 

Databricks Lakehouse

Databricks Lakehouse aims to provide users with a single platform containing data, analytics, and AI, to allow consumers to govern, man, and derive insights from enterprise data, reby building ir own generative AI solutions faster.

"Enterprise data is a goldmine for generative AI," said Jensen Huang, founder and CEO of NVIDIA. “Databricks is doing incredible work with NVIDIA techlogy to accelerate data processing and generative AI models.” 

“Data and AI have rapidly become centerpiece of many business strategies. Databricks has t only pioneered Lakehouse category… but it is w also at forefront of Generative AI for enterprise,” Alan Tu, Le Private Equity Analyst, T Rowe Price Associates, said.