Rapid cash

Databricks throws a lake of treasury data to monstrous $ 38 billion valuation – blocks and files


Databricks raised $ 1.6 billion in its eighth funding round, not $ 1.5 billion as first reported.

The startup’s post-money valuation was $ 38 billion, which compares to NetApp market capitalization of $ 19.92 billion and HPE’s $ 20.19 billion. Dell Technologies is higher than any of these companies at $ 74.43 billion. Bigger data analytics beast Snowflake is capitalized at $ 90.13 billion. And that, we believe, underlies Databricks massive review count.

Ali Ghodsi.

Ali Ghodsi, co-founder and CEO of Databricks, said in a statement: “This new investment is a reflection of the rapid adoption and incredible customer demand that we are seeing for the Databricks Lakehouse platform and highlights the industry and investor confidence in our vision – that Lakehouse is the data architecture of the future. This is an exciting new chapter that will allow us to step up our pace of innovation and invest more in the success of data-driven organizations on their journey to the Lake House. “

Databricks analytics technology works directly on raw data, eliminating the need for an Extract, Transform, and Load (ETL) process to move it into a data warehouse. He calls his data store a lake and says his customers – hundreds of them – are building lakes on AWS, Azure and Google Cloud to support every data and analytics workload on a single platform. form.

Databricks Announced Former Salesforce Executive Andy Kofoid As President Of Global Field Operations

The company has now raised nearly $ 3.6 billion in total funding and claims more than 5,000 customers in total.

Investors

The round was led by Counterpoint Global (Morgan Stanley) and other new investors, including Baillie Gifford, ClearBridge Investments and UC Investments. Existing investors participating in the round include Andreessen Horowitz, funds and accounts managed by BlackRock, the Canada Pension Plan Investment Board (CPP Investments), Coatue Management, Fidelity Management & Research, Franklin Templeton, GIC, Greenoaks, Octahedron Capital, funds and accounts managed by T. Rowe Price Associates, Inc., Tiger Global Management and Whale Rock Capital Management.

Other existing and new investors who participated in this funding round include: Alta Park Capital, a BNY Mellon suite of funds, Discovery Capital, Dragoneer Investment Group, Flucas Ventures, Gaingels, Geodesic, Green Bay Ventures, the House Fund , Insight Partners and New Business Partners.

We would like to say that Uncle Tom Cobley and all were on the list as well – but they weren’t.

Comment

Raising $ 1.6 billion that you don’t need at a $ 38 billion post-currency valuation makes data analytics-focused venture capital seem like a virtual reality – a bubble of money. investment with constantly expanding valuations and funding rounds.

Some commentators think “Unicorn” is the wrong term for a startup over $ 10 billion and suggest “Dragon” instead. Maybe Databricks wants to be the mother of dragons in this Game of Thrones investment climate.

Can Databricks succeed in making its Lakehouse technology, as it says, the data architecture of choice for data-driven organizations – virtually any business? Snowflake is the IPO dream that dazzles Databricks investors, and they think they have a chance of making their way into the public offering.


Leave a Reply

Your email address will not be published.