Databricks is Raising $10B Series J Investment at $62B Valuation

Hyderabad: Databricks, the Data and AI company, announced its Series J funding. 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,” said Ali Ghodsi, Co-Founder and CEO of Databricks. “We’re building transformative data and AI infrastructure and excited to move aggressively in service of our customers and their success.” The Databricks Data Intelligence Platform democratizes access to data and AI, making it easier for organizations to harness the power of their data for analytics, machine learning, and AI applications. Customers use the Data Intelligence Platform to find and treat diseases and cancer earlier, identify new ways to combat climate change, detect financial fraud, develop pharmaceuticals faster, reduce time to mental health intervention, decrease local financial inequality and much more. “We have witnessed the team's unrelenting execution, and consider it an honor to be partners with the company for the long term.” Today’s announcement comes on the heels of Databricks’ recent momentum which includes: Growing over 60% year-over-year in the third quarter ended October 31, 2024 Expecting to cross $3 billion revenue run-rate and be free cash flow positive in the fourth quarter ending January 31, 2025 Continuing to achieve non-GAAP subscription gross margins above 80% Having 500+ customers consuming at over $1 million annual revenue run-rate Achieving $600 million revenue run rate for Databricks SQL, the company’s intelligent data warehousing product, up more than 150% year-over-year Databricks’ momentum builds upon a year of global business expansion.