Round led by T. Rowe Price, joined by new investors Capital One Ventures, Ontario Teachers’ Pension Plan and strategic investor NVIDIA.
Databricks, the Data and AI company, today announced its Series I funding, raising over $500m. This funding values the company at $43bn and establishes the price per share at $73.50. The series is led by funds and accounts advised by T. Rowe Price Associates, Inc., which is joined by other existing investors, including Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, funds and accounts managed by Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, GIC, Octahedron Capital and Tiger Global along with new investors Capital One Ventures, Ontario Teachers’ Pension Plan and NVIDIA.
“The commitment from long-term focused strategic and financial partners reflects Databricks’ continued momentum, the rapid customer adoption of the Databricks Lakehouse, and the success customers are seeing from moving to a unified data and AI platform,” said Ali Ghodsi, Co-Founder and CEO of Databricks. “Databricks and NVIDIA are building transformative AI technology, and we’re excited about the business value and innovation we can bring to our customers.”
The Databricks Lakehouse unifies data, analytics and AI on a single platform so that customers can govern, manage and derive insights from enterprise data and build their own generative AI solutions faster.
“Enterprise data is a goldmine for generative AI,” said Jensen Huang, founder and CEO of NVIDIA. “Databricks is doing incredible work with NVIDIA technology to accelerate data processing and generative AI models.”