Tuesday, August 22, 2017

Databricks raises $140 million to bring AI to its analytics platform

Databricks, a start-up that was founded out of the UC Berkeley AMPLab by the team that created Apache Spark, announced $140 million in a Series D funding round, bringing its total capital raised to date to $247 million.

Databricks, which is based in San Francisco, povides a Unified Analytics Platform for data science teams to collaborate with data engineering and lines of business to build data products. The company said the new investment will accelerate its efforts to make Artificial Intelligence (AI) achievable for enterprise organizations.

“AI has enormous promise but also a 1% problem. Less than 10 companies in the world are achieving the full potential of AI and the rest are really struggling. Databricks’ mission is to simplify AI and bring it to the other 99% of enterprise organizations,” said Ali Ghodsi, cofounder and CEO of Databricks. “This funding will enable us to expand our offering and bring it to many more markets, enabling more businesses to reap the benefits of Big Data and AI.”

The new funding round was led by Andreessen Horowitz. New Enterprise Associates (NEA) and Battery Ventures also participated, along with new investors included Future Fund Investment Co., A.Capital Partners, Geodesic Capital and Green Bay Ventures.


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