Databricks raises $5B, valuation jumps to $190B from $134B
Business
Databricks just scored a massive $5 billion funding round, pushing its value up to a jaw-dropping $190 billion, up from $134 billion only one-half of a year ago.
Big names like Coatue, Blackstone, MGX, and accounts advised by T. Rowe Price led the charge, with Sixth Street Growth joining in as a fresh investor.
Databricks cash flow positive, accelerating AI
With this new cash pile, Databricks plans to level up its AI and data products, including Lakebase database, Genie AI Assistant, and Unity AI Gateway.
The company is riding high on over 80% yearly revenue growth and staying cash flow positive.
Founded in 2013 and surpassed a $7 billion annualized revenue run-rate, Databricks is looking like a strong contender for an IPO as interest in AI keeps heating up.