Databricks Raises $10B, Achieves $62B Valuation with 60% YoY Growth and $3B Revenue Run Rate

Dec 17, 2024, 05:04 PM

Databricks, a prominent data analytics platform, has successfully raised $10 billion in a Series J funding round, propelling its valuation to $62 billion. This funding round is noted as one of the largest in Silicon Valley history, surpassing previous records, including the $6.6 billion raised by OpenAI earlier this year. The company, which has demonstrated a revenue run rate of $3 billion and over 60% year-over-year growth, is backed by notable investors such as Andreessen Horowitz, Thrive Capital, GIC, and Wellington. The funding is expected to bolster Databricks' expansion efforts and may pave the way for an anticipated IPO, potentially valued at $100 billion by 2027. The latest valuation marks a significant increase from the $43 billion valuation recorded in 2023, reflecting the growing investor interest in AI technologies and data analytics. Databricks aims to utilize this capital to enhance its offerings and maintain its competitive edge in the rapidly evolving tech landscape.