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Databricks raises $10B as it barrels toward an IPO
Databricks, the data analytics platform, has raised $10 billion in a funding round that values the company at $62 billion.
Backers include Thrive Capital, Andreessen Horowitz, DST Global, GIC, and Iconiq Growth. Founded in 2013 by seven Ph.D. candidates from UC Berkeley, Databricks sells AI, big data analytics, and cloud tooling to enable companies to build data- and AI-powered applications. Databricks expects to generate positive free cash flow for the first time with a $3 billion revenue run rate in the quarter that ends on January 31, according to CNBC.
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