Databricks, California based data analytics solution firm has announced securing $400 million as part of Series F round led by Andreessen Horowitz. The financing round also saw participation from BlackRock, Inc., funds, and accounts advised by T. Rowe Price Associates, Inc., and Tiger Global Management, Alkeon Capital Management, Coatue Management, Dragoneer Investment Group, Geodesic, Green Bay Ventures, Microsoft Corporation, and New Enterprise Associates.
Prior to this round, Andreessen Horowitz had led $250 million round in the firm earlier in the year as well. The current infusion takes the total amount raised by the firm now to $897 million. The latest funding round takes the valuation of the firm to a massive $6.2 billion. Notably, the firm has been planning for an IPO as per a few reports.
Founded in 2013 by Ali Ghodsi, Andy Konwinski, Ion Stoica, Matei Zaharia, Patrick Wendell, Reynold Xin, Scott Shenker, Databricks helps customers by providing them a unified analytics platform for data science teams to collaborate with data engineering and lines of business to build data products.
Ali Ghodsi, the CEO of the firm talking about the firm said, “Our bets on massive data processing, machine learning, open-source and the shift to the Cloud are all playing out in the market and resulting in enormous and rapidly growing global customer demand. As a result, Databricks is the fastest-growing enterprise software cloud company on record.”
The firm counts big players like Hotels.com, Viacom, HP, Shell Energy, Showtime, Riot Games, Sanford Health, Expedia, Condé Nast, McGraw Hill, Zeiss, Cisco, NBCUniversal, Overstock, Nielsen, HP, and Dollar Shave Club among its customers.
David George, the general partner at Andreessen Horowitz talking about Databricks said, “Databricks' net revenue retention is astounding. Why? Because customers love the product. Beyond that, they've followed up their breakthrough Spark technology with an amazing series of open source innovations including Delta Lake, MLflow, and Koalas.”
Image Courtesy : Databricks