Databricks raised over US$500 million through its Series I funding, which brings the value of the data and AI company to US$43 billion, and establishes the price per share at US$73.50.
The series is led by funds and accounts advised by T. Rowe Price Associates, which is joined by other existing investors, including Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, funds and accounts managed by Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, GIC, Octahedron Capital and Tiger Global along with new investors Capital One Ventures, Ontario Teachers’ Pension Plan and NVIDIA.
“The commitment from long-term focused strategic and financial partners reflects Databricks’ continued momentum, the rapid customer adoption of the Databricks Lakehouse, and the 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 technology, and we’re excited about the business value and innovation we can bring to our customers,” said Ghodsi.
The Databricks Lakehouse unifies data, analytics and AI on a single platform so that customers can govern, manage and derive insights from enterprise data and build their 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 technology to accelerate data processing and generative AI models.”
Alan Tu, lead private equity analyst at T. Rowe Price Associates, said Databricks has not only pioneered the Lakehouse category with a world-class team and product, but it is now also at the forefront of Generative AI for the enterprise.
Olivia Steedman, executive managing director of Teachers’ Venture Growth at Ontario Teachers’ Pension Plan, said they see tremendous growth potential for the business as enterprises increasingly deploy AI across their operations.
