Data analytics platform Databricks has confirmed that it has closed a previously announced $10 billion in Series J equity financing at a $62 billion valuation.
The San Francisco-based company also added a further $5.25 billion in debt financing, funded by JPMorgan Chase, Barclays, Citi, Goldman Sachs, Morgan Stanley, among other “leading financial institutions and alternative asset managers,” according to a press release.
Founded in 2013, companies use Databricks to pool and analyze vast swathes of data from disparate systems to glean insights — for instance, a retailer might want to combine different datasets to figure out what products sell best, at what times of year, to forecast inventory requirements.
Moreover, data is pivotal to the burgeoning AI revolution, with Databricks serving as a unified platform for preparing data for building and deploying machine learning models.
The company has now raised around $19 billion financing over its 12 year history, with its Series J round — first announced in December when it had raised $8.6 billion of its $10 billion target — ushering in a slew of notable new and existing investors. Indeed, in addition to Temasek and Qatar’s sovereign wealth fun, QIA, Facebook’s parent company Meta also joined the as “strategic investor.” Corporate investment into AI-aligned companies has become something of a trend, with Meta also joining a $1 billion investment into data-labelling startup Scale AI last year.
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