Thursday, September 9, 2021

Databricks closes whopping $1.6 billion for data lakehouse

Databricks, which offers a data, analytics and AI platform, announced the final closing of its $1.6 billion Series H funding round with the participation of existing investors Amazon Web Services (AWS), CapitalG, and Microsoft.

Databricks, which is based in San Francisco, now boasts a $38 billion post-money valuation. 

Databricks says the new funding will be used to accelerate innovation and adoption of the lakehouse as the data architecture’s popularity across data-driven organizations continues to grow at a rapid pace.

“We are delighted to once again include our most strategic partners in this latest round of funding, as it validates our vision for an open and unified approach to data and AI on any cloud,” said Ali Ghodsi, Co-Founder and CEO of Databricks. “As we jointly make more organizations successful in their move to the cloud and accelerate adoption of the lakehouse architecture, we’re excited to see these partnerships – and the ecosystems formed around them – continue to grow for decades to come.”

Databrick builds its analytics platform directly on the cloud data lakes on AWS, Microsoft Azure, and Google Cloud to support multiple data and analytics workloads in a single, unified location. The company claims more than 5,000 customers organizations worldwide — including Comcast, Condé Nast, H&M, and over 40% of the Fortune 500. Its founders include the original creators of Apache Spark, Delta Lake and MLflow.