Databricks Secures $10B in Series J Funding, Valued at $62B with $2.6B Revenue

Dec 17, 2024, 02:42 PM

Databricks, a data analytics platform, has raised $10 billion in a Series J funding round, valuing the company at $62 billion. This valuation marks an increase from $43 billion in 2023. The financing round, one of the largest in venture capital history, was led by investors including Thrive Capital, Andreessen Horowitz, DST Global, GIC, and Iconiq Growth. The funds are intended to provide liquidity to current and former employees, facilitate mergers and acquisitions, and support international expansion. Databricks reported $2.6 billion in revenue and is expected to achieve positive free cash flow with a $3 billion revenue run rate by the end of January, following a year-over-year revenue growth of over 60% in the October quarter. The company is also preparing for an initial public offering (IPO), which could occur as early as mid-2025.