Databricks has successfully raised $990 million over eight funding rounds, achieving a valuation of over $1 billion. The platform offers a unified workspace for data engineering, collaborative data science, and AI development.
Keep reading to explore the intricacies of Databricks' fundraising journey and the investors backing this innovative platform.
What Is Databricks?
Databricks, founded in 2013, is headquartered in San Francisco. The company was established by the creators of Apache Spark, including Quinn Hodges.
Databricks offers a cloud-based platform for data engineering and collaborative data science, simplifying big data processing. Their integrated workspace allows users to go from data ingest to visual exploration and production jobs seamlessly.
With a workforce of 1001-5000 employees, Databricks continues to innovate in the field of data and AI solutions, making it easier for organizations to turn data into actionable insights.
How Much Funding Has Databricks Raised?
- Series A
- Amount Raised: $14,000,000
- Date: September 2013
- Motivation Behind the Round: To launch Databricks Cloud, simplifying big data processing by integrating the process under one cloud umbrella.
- Series B
- Amount Raised: $33,000,000
- Date: June 2014
- Lead Investors: New Enterprise Associates, Andreessen Horowitz
- Motivation Behind the Round: To commercialize Apache Spark, making big-data software far easier and faster to use.
- Series C
- Amount Raised: $60,000,000
- Date: December 2016
- Lead Investors: New Enterprise Associates, Andreessen Horowitz
- Motivation Behind the Round: To advance engineering and go-to-market strategies, address customer pain points, and continue growing the Spark community.
- Series D
- Amount Raised: $140,000,000
- Date: August 2017
- Motivation Behind the Round: To expand its sales and marketing efforts and further develop its technology.
- Series E
- Amount Raised: $250,000,000
- Date: February 2019
- Motivation Behind the Round: To scale operations and accelerate product innovation.
- Series F
- Amount Raised: $400,000,000
- Date: October 2019
- Motivation Behind the Round: To expand its global reach and enhance its AI capabilities.
Databricks has raised a total of $897,000,000 with a current valuation of $6.2 billion.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm that provides seed, venture, and growth-stage funding to technology companies. It is known for its influential role in Silicon Valley and its extensive portfolio of tech investments.
- Investment Focus Areas: Technology, software, cloud computing, artificial intelligence
- Notable Investments: Facebook, Airbnb, Slack
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm that invests in technology and healthcare companies at all stages of growth. It has a long history of successful investments and a broad portfolio.
- Investment Focus Areas: Technology, healthcare, enterprise software
- Notable Investments: Coursera, Robinhood, Salesforce
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm. It invests in companies at all stages, from seed to growth and buyout.
- Investment Focus Areas: Software, cloud infrastructure, industrial technology
- Notable Investments: Nutanix, Coupa, Glassdoor
- Accel
- Details: Accel is a venture capital firm that focuses on early and growth-stage investments. It has a strong presence in both the U.S. and international markets.
- Investment Focus Areas: Consumer internet, enterprise software, fintech
- Notable Investments: Facebook, Dropbox, Spotify
- Coatue Management
- Details: Coatue Management is a technology-focused investment firm that manages both public and private equity funds. It is known for its data-driven investment approach.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Snap, ByteDance, DoorDash
What's Next for Databricks?
Databricks stands at the cusp of significant opportunities, driven by the increasing importance of big data and advanced analytics in business decision-making. The company aims to expand its technology to make data processing more efficient and cost-effective, while also increasing its market presence through enhanced sales and marketing efforts. With a growing community of data scientists and contributors, Databricks is well-positioned to leverage these resources for continued innovation.
Future fundraising opportunities appear promising, given the strong interest from venture firms and the company's impressive growth trajectory. However, challenges such as competition from other big data companies and the need to continuously innovate to stay ahead in the rapidly evolving tech landscape remain. Ensuring the scalability and reliability of their cloud-based solutions will be crucial as they navigate these challenges.
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