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Databricks secures $5B funding
DataBricks announced that it has raised $5 billion in a new funding round, raising its valuation to $190 billion as part of its efforts to expand investments in AI products and data management. This round comes six months after a previous valuation of $134 billion, amid strong investor demand for companies related to the AI boom. The company’s annual revenue has exceeded $7 billion, with over 80% growth in the second quarter, while maintaining positive cash flows. Founded in 2013, DataBricks competes with Snowflake and plans to use the proceeds to invest in products such as Lakebase, Genie, and Unity AI Gateway. Lakebase revenues have surpassed $100 million, and the Lakehouse business activity reached $1.5 billion annually.
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