PANews December 18 news, according to Bloomberg, Databricks, which focuses on big data analytics and artificial intelligence solutions, announced a new round of funding of $10 billion, bringing the company's valuation to $62 billion. This round of financing was led by Thrive Capital, with participation from Andreessen Horowitz and DST Global, among others. Other supporters of this new round of financing include the Singapore sovereign wealth fund GIC Pte Ltd., Insight Partners, and WCM Investment Management. According to informed sources, Lightspeed Venture Partners also participated in this deal. An anonymous source indicated that the company invested $200 million in this round of funding. Databricks plans to use the funds to develop new AI products, pursue acquisitions, and expand international market operations. Additionally, it will be used to repurchase existing and former employee shares.
Databricks expects its annual revenue for fiscal year 2025 to exceed $3 billion, with sales in this quarter growing more than 60% year-over-year. Its product Databricks SQL, which competes with Snowflake, has an annual revenue of $600 million, with a year-over-year growth rate exceeding 150%. Currently, there are more than 500 customers with annual consumption exceeding $1 million. This round of financing enhances employee share liquidity and provides flexibility for a future IPO, with CEO Ali Ghodsi stating that it could go public as early as next year.