Databricks, a San Francisco, CA-based data and AI company, has raised $10 billion in Series J funding round.
Investors
The round was led by Thrive Capital, co-led by Andreessen Horowitz, DST Global, GIC, Insight Partners, and WCM Investment Management, with participation from Ontario Teachers' Pension Plan, ICONIQ Growth, MGX, Sands Capital, and Wellington Management. This funding values the company at $62 billion.
Thrive Capital is a venture capital investment firm that focuses on building and investing in Internet, software, and technology-enabled companies. Founded in 2009, Thrive Capital is based in New York, NY.
Andreessen Horowitz (a16z) is a venture capital firm that backs bold entrepreneurs shaping the future through technology. The firm invests in companies at various stages, from seed to growth. a16z manages $43 billion in assets across multiple funds.
Founded in 2009, DST Global is a venture capital firm based in Grand Cayman, Cayman Islands. The firm has offices in Menlo Park, New York, London, Beijing, and Hong Kong. It seeks to invest in information technology, mobile, internet of things, and e-commerce sectors.
GIC is a global investment firm established in 1981 to manage Singapore's foreign reserves. The firm has investments in over 40 countries and is headquartered in Singapore, with 11 offices in key financial cities worldwide.
Insight Partners is a global software investor supporting high-growth tech and internet companies. With over $80 billion in assets under management as of June 2024, it has invested in over 800 companies, including 55+ IPOs. Headquartered in New York City, it also has offices in London, Tel Aviv, and the Bay Area.
WCM Investment Management is a global growth equity specialist that focuses on competitive advantages and corporate culture to seek long-term excess returns. The firm provides services for a diverse client base, including individual investors, corporations, public and private funds, Taft-Hartley plans, foundations, and endowments.
Databricks Use of Funds
The company plans to use the funds for AI product development, acquisitions, and international expansion.
About Databricks
Databricks is a technology company specializing in data and artificial intelligence (AI). It provides a unified platform that helps organizations manage, analyze, and leverage large amounts of data for various purposes, including machine learning, data analytics, and AI applications. Databricks is expanding globally with new regional hubs in London (Europe) and Singapore (APJ), along with an expanded presence in Latin America and the Middle East.
Funding Details
Company: Databricks, Inc.
Raised: $10.0B
Round: Series J
Funding Date: December 2024
Lead Investors: Thrive Capital, Andreessen Horowitz, DST Global, GIC, Insight Partners, WCM Investment Management
Additional Investors: Ontario Teachers' Pension Plan, ICONIQ Growth, MGX, Sands Capital, Wellington Management
Company Website: https://www.databricks.com/
Software Category: Data Management
Source: https://www.databricks.com/company/newsroom/press-releases/databricks-raising-10b-series-j-investment-62b-valuation