Databricks is Raising $10B Series J Investment at $62B Valuation

democratizes access to data and AI, making it easier for organizations to harness the power of their data for analytics, machine learning, and AI applications. Built on an open source foundation, the platform enables organizations to drive innovation to increase revenue, lower costs, and reduce risk. Customers use the Data Intelligence Platform 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 much more.

"Databricks, driven by its mission to democratize data and AI, has emerged as the platform of choice," said Joshua Kushner, CEO of Thrive Capital. "We have witnessed the team's unrelenting execution, and consider it an honor to be partners with the company for the long term."

Today's announcement comes on the heels of Databricks' recent momentum which includes:

Growing over 60% year-over-year in the third quarter ended October 31, 2024Expecting to cross $3 billion revenue run-rate and be free cash flow positive in the fourth quarter ending January 31, 2025Continuing to achieve non-GAAP subscription gross margins above 80%Having 500+ customers consuming at over $1 million annual revenue run-rateAchieving $600 million revenue run rate for Databricks SQL, the company's intelligent data warehousing product, up more than 150% year-over-year

Databricks' momentum builds upon a year of global business expansion. 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.

About Databricks

Databricks is the Data and AI company. More than 10,000 organizations worldwide — including Block, Comcast, Condé Nast, Rivian, Shell and over 60% of the Fortune 500 — rely on the Databricks Data Intelligence Platform to take control of their data and put it to work with AI. Databricks is headquartered in San Francisco, with offices around the globe and was founded by the original creators of Lakehouse, Apache Spark™, Delta Lake and MLflow. To learn more, follow Databricks on X, LinkedIn and Facebook.

Contact: Press@databricks.com

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