Databricks, a San Francisco-based Data and AI company, has announced its Series J funding round, raising $10 billion in non-dilutive financing, with $8.6 billion already secured. This funding values the company at $62 billion and is led by Thrive Capital, alongside co-leaders Andreessen Horowitz, DST Global, and GIC. Additional investors include Ontario Teachers’ Pension Plan, ICONIQ Growth, and Sands Capital. Databricks plans to use the capital to expand its AI offerings, support international growth, and provide liquidity for employees. CEO Ali Ghodsi emphasized the company’s commitment to advancing data intelligence infrastructure to deliver long-term value to its customers.
The funding announcement comes amid significant growth for Databricks, which reported a 60% year-over-year increase in momentum. The company expects to achieve a $3 billion revenue run rate and positive free cash flow in January 2025. Databricks serves over 10,000 global organizations, including major brands like Shell and Comcast, through its Data Intelligence Platform. With new regional hubs in London and Singapore and expanded operations in Latin America and the Middle East, Databricks continues to position itself as a global leader in the data and AI landscape.
