Databricks hits $6.2bn valuation after second funding round this year

Unified analytics solution Databricks has collected $400m in its Series F round, only months after closing its Series E on $250m.

With the close of this funding round, Databricks has reached a $6.2bn valuation.

The round was led by Andreessen Horowitz’s Late Stage Venture fund, with additional commitments coming from BlackRock, funds and accounts advised by T. Rowe Price Associates, and Tiger Global Management.

Other backers included Alkeon Capital Management, Coatue Management, Dragoneer Investment Group, Geodesic, Green Bay Ventures, Microsoft Corporation, and New Enterprise Associates (NEA).

With fresh funds, the company will increase R&D efforts and increase its global expansion. This includes a €100m investment into its European Development Centre in Amsterdam over the next three years.

It is also looking to build dedicated engineering teams to advance the popular open source technologies it built for data management. Finally, the FinTech will look to expand in Europe, Middle East, Africa, Asia Pacific, and Latin America.

The company offers a unified data analytics solution to encourage collaboration between data science and data engineering teams to build new products which are backed with greater insights. Its technology can be used for cybersecurity, IoT, GDPR, and deep learning.

This investment has come during a strong period of growth for the company which has seen its annual recurring revenue increase by more than 2.5-times in the last year. The company claims it has gone from near zero in revenue to $200m in just under four years.

Databricks co-founder and CEO Ali Ghodsi said, “Data teams at thousands of organizations globally are now leveraging our Unified Data Analytics Platform to solve their toughest problems.

“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 among the fastest growing enterprise software cloud companies on record.”

At the start of the year, the FinTech closed its Series E on $250m with Andreessen Horowitz also acting as the lead investor to the round.

Copyright © 2019 FinTech Global


Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.