Databricks Raises $10B to Fuel Growth, AI Innovation & Strategic Acquisitions 🚀
Databricks secures $10 billion in funding, boosting its valuation to $62 billion. The company aims to enhance liquidity, accelerate AI development, and pursue new acquisitions.
Benzinga
1.1K views • Dec 18, 2024
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Databricks secured $10 billion in financing, raising its valuation to $62 billion, up from $43 billion in 2023. The software company plans to use the funds for employee liquidity, acquisitions, and overseas expansion. Databricks sells AI and data analytics tools across Amazon, Google, and Microsoft clouds. It expects positive free cash flow for the first time, with a $3 billion revenue run rate in the current quarter. Its revenue grew over 60% year-over-year in October.
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