Databricks, the data and AI company, has raised $8.6 billion in its Series J funding round. The round was co-led by Thrive, Andreessen Horowitz, DST Global, GIC, Insight Partners and WCM Investment Management.
Databricks is raising $10 billion of expected non-dilutive financing and has completed $8.6 billion to date. This funding values Databricks at $62 billion.
Other significant participants include existing investors Ontario Teachers’ Pension Plan and new investors ICONIQ Growth, MGX, Sands Capital and Wellington Management.
The raised capital will be used towards new AI products, acquisitions, and significant expansion of its international go-to-market operations.
In addition to fueling its growth, this capital is expected to be used towards providing liquidity for current and former employees, as well as paying related taxes.
“We were substantially oversubscribed with this round and are super excited to bring on some of the world’s most well-known investors who have a deep conviction in our vision. These are still the early days of AI. We are positioning the Databricks Data Intelligence Platform to deliver long-term value for our customers and our team is committed to helping companies across every industry build data intelligence. We’re building transformative data and AI infrastructure and excited to move aggressively in service of our customers and their success,” said Ali Ghodsi, Co-Founder and CEO of Databricks.
“Databricks, driven by its mission to democratize data and AI, has emerged as the platform of choice. We have witnessed the team’s unrelenting execution, and consider it an honor to be partners with the company for the long term,” said Joshua Kushner, CEO of Thrive Capital.
