Databricks, a US-based enterprise software company, announced that it has raised US$1.6 billion during a Series H funding round at a US$38 billion valuation.
This new round brings Databricks’ total funding to almost US$3.6 billion, and will be used to accelerate the company’s rapidly growing data lakehouse market.
The round was led by Counterpoint Global (Morgan Stanley) and joined by other new investors including Baillie Gifford, ClearBridge Investments and UC Investments (Office of the Chief Investment Officer of the Regents of the University of California).
Existing investors participating in the round include Andreessen Horowitz, funds and accounts managed by BlackRock, Canada Pension Plan Investment Board (CPP Investments), Coatue Management, Fidelity Management & Research, Franklin Templeton, GIC, Greenoaks, Octahedron Capital, funds and accounts managed by T. Rowe Price Associates, Inc., Tiger Global Management and Whale Rock Capital Management.
Additionally, Alta Park Capital, a suite of BNY Mellon funds, Discovery Capital, Dragoneer Investment Group, Flucas Ventures, Gaingels, Geodesic, Green Bay Ventures, the House Fund, Insight Partners, and New Enterprise Associates also joined the fundraise.
As further commitment to accelerate lakehouse adoption globally, Databricks also announced the appointment of former Salesforce executive, Andy Kofoid, as President of Global Field Operations.
“This new investment is a reflection of the rapid adoption and incredible customer demand we’re seeing for the Databricks Lakehouse Platform and underscores the industry and investor confidence in our vision – that lakehouse is the data architecture of the future.
This marks a thrilling new chapter that will allow us to accelerate our pace of innovation and further invest in the success of data-driven organizations on their journey to the lakehouse.”
said Ali Ghodsi, Co-Founder and CEO of Databricks.
Featured image: Ali Ghodsi, Co-Founder and CEO of Databricks.
This article first appeared on Fintech News Switzerland.
