Databricks, a data and AI company, recently announced its Series I funding, raising more than $500 million. This funding values the company at $43 billion and was led by T. Rowe Price. The round follows the rapid customer adoption of its Databricks Lakehouse offering and will help further the company’s growth momentum following its Q2 achievements.
Databricks’ Q2 momentum included completing its acquisition of generative AI platform MosaicML, surpassing a $1.5 billion revenue run rate at more than 50 percent year-over-year revenue growth and having more than 10,000 global customers.
The company serves names including Comcast, Condé Nast and half of the Fortune 500 with its solution that works to unify data, analytics and AI to help customers govern, manage and derive insights from their data and build their own generative AI solutions faster.
