Databricks Raises $10B, Plans $3B Revenue by Jan 2025

Databricks, a data analytics and AI platform, has raised $10 billion in a Series J funding round, valuing the company at $62 billion. This round, co-led by Thrive Capital and other major investors such as Andreessen Horowitz and DST Global, makes it one of the largest venture capital raises in history. The funds will be used to develop new AI products, make acquisitions, and expand internationally, while also providing liquidity for employees. Databricks, which competes with companies like Snowflake, has seen a 60% year-over-year revenue growth and expects to achieve a $3 billion revenue run rate by January 31, 2025. The company aims to leverage its Data Intelligence Platform to democratize AI and data analytics, serving over 10,000 customers, including Comcast and Shell. Databricks' valuation increase underscores the significant demand for AI capabilities and the ongoing boom in AI-focused investments.