Databricks racks up $38bn valuation after catching fresh investor eyes
Data and artificial intelligence firm Databricks has racked up an eyewatering $38bn valuation after a fresh bout of investors piled into its latest fundraiser.
Databricks, which offers data platforms that business heavyweights like Shell, HSBC, T-Mobile, Rolls-Royce, Gousto, and Autotrader rely on, has been channelling its recent efforts into ‘data architecture’ or massive-scale data engineering.
The firm’s Series H funding round, spearheaded by Morgan Stanley’s Counterpoint Global equity team, pulled in some $1.6bn, which is set to help bolster its innovation capabilities.
Alongside Counterpoint Global, Baillie Gifford, ClearBridge Investments and UC Investments marked their first investment behind the firm.
The firm’s join existing backers which include BlackRock’s Andreessen Horowitz funds and accounts, Canada Pension Plan Investments, Coatue Management, Fidelity Management & Research, Franklin Templeton, GIC, Greenoaks, Tiger Global Management and Whale Rock Capital Management.
It comes as Databricks former Salesforce executive Andy Kofoid is set to join the company as president of global field operations.
“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,” co-founder and CEO Ali Ghodsi said.