Databricks raises $1.6B in Series H at $38B post-money valuation from Counterpoint Global

SaaS News - {Databricks-expands-its-data-lake-analytics-with-$1.6B-funding} (source: SaaS Industry)

At a Glance

Databricks has raised $1.6B at a valuation of $38B from Counterpoint Global and others. The company aspires to build on its lead by investing in innovations that simplify AI and establish lakehouse as a modern replacement for traditional data warehousing

Databricks, a Data and AI company interacting with corporate information in the public cloud, has raised $1.6 billion in a Series H round led by Counterpoint Global (Morgan Stanley) at a post-money valuation of $38 billion to accelerate innovation and adoption of the data lakehouse, a press release from the company said.

The Series G round for Databricks came in February this year, where it netted $1 billion. With the close of this round, the total amount raised by Databricks touches $3.6 billion. It would be driven towards accelerating its leadership position in the massive and rapidly growing data lakehouse market. 

Ali Ghodsi, co-founder and CEO of Databricks, stated that the funding marked a new chapter in the team’s journey, paving the way for accelerating its innovation and investing in data-driven organizations.

“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,”

Ali Ghodsi

Other new investors including Baillie Gifford, ClearBridge Investments and UC Investments alongside Databricks’ existing investors – Andreessen Horowitz, funds and accounts managed by BlackRock, Canada Pension Plan Investment Board, 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 – participated in the funding round.

Databricks stressed that it would build on its lead by investing in innovations that simplify AI and establish lakehouse as a modern replacement to traditional data warehousing. Dennis Lynch, head of Counterpoint Global, expressed excitement at partnering with the Databricks’ team and added,

“Databricks whose lakehouse platform is reinventing analytics with the speed and scale customers require today. We believe the company is well-positioned to become a platform of choice among forward-thinking enterprises that want to transform valuable data into strategic business insights.”

Dennis Lynch
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