December 17, 2024:
Databricks Secures $10B, Eyes IPO - Databricks raised $10 billion in a Series J funding round, valuing the company at $62 billion. This round, among the largest in history, includes investors like Thrive Capital and Andreessen Horowitz, positioning Databricks for mergers, employee stock payouts, and global expansion. Founded in 2013, the company specializes in AI, big data analytics, and cloud solutions and expects its first positive free cash flow by January 31 with a $3 billion revenue run rate.
Databricks reported over 60% year-over-year revenue growth in the October quarter. The significant funding and revenue growth underscore its strong market position and potential for future development.
