Startups
Databricks to Hit $62 Billion Valuation in New Funding Round
- Annualized revenue expected to reach $3 billion in January
- Round led by Thrive with funds from Andreessen Horowitz, DST
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Databricks Inc. is raising $10 billion in new funding, a massive cash injection that will bring the software maker’s valuation to $62 billion.
The startup, which is among the world’s most highly valued closely held companies, “intends to invest this capital towards new AI products, acquisitions, and significant expansion of its international go-to-market operations,” according to a statement released Tuesday. The capital will also be used toward buying shares owned by current and former employees.