San Francisco, Feb 2, 2021: AI startup Databricks raises $1 billion in funding in Series G round from Microsoft, Google and Amazon Web Services.
Using this round of funding the startup value soar at a $28 billion valuation.
Databricks is an analytics-based cloud computing platform that has 5,000 customers, including 40 percent of Fortune 500 companies.
“We see this investment and our continued rapid growth as further validation of our vision for a simple, open and unified data platform that can support all data-driven use cases, from BI (business intelligence) to AI,” said Ali Ghodsi, Databricks chief executive and co-founder.
“Databricks helps organizations eliminate the cost and complexity that is inherent in legacy data architectures so that data teams can collaborate and innovate faster.”
New Investors such as Salesforce, Canada Pension Plan Investment Board, Fidelity Management & Research LLC, and Whale Rock, along with existing investors Andreessen Horowitz, Alkeon Capital Management, and other financial firms also participated in this round.