AI startup Databricks raises $1 Billion Series G Investment valued at $28 billion
By MYBRANDBOOK
Databricks, an AI and data start-up company, based out of San Francisco announced a $1 Billion investment in response to the rapid global adoption of its unified data platform. The Series G funding, led by new investor Franklin Templeton, puts Databricks at a $28 billion valuation. with investments coming from Microsoft, Google and Amazon. Ali Ghodsi, CEO and Co-Founder of Databricks said, we see this investment and our continued rapid growth as further validation of our vision for a simple, open and unified data platform that can support all data-driven use cases, from BI to AI.
It develops technology that delivers improved analytics to cloud computing platforms, has some 5,000 customers, including 40 percent of Fortune 500 companies, which use the service for data engineering. This funding will accelerate Databricks’ innovation and allow the company to scale and support the rapid adoption of the lakehouse, which is quickly becoming the data architecture of choice for data-driven organizations around the world.
Franklin Templeton is excited to work with Databricks as they enter this next stage of their impressive journey. We’ve seen first hand their ability to help enterprises leverage data to better understand customer journeys, operationalize business processes and, ultimately, build competitive advantage rooted in data. We believe they have a strong, accomplished team and visionary platform, and believe that the future for Databricks is bright, with a clear leadership position and open-ended growth opportunity,” said Jonathan Curtis, Senior Vice President, Research Analyst and Portfolio Manager, Franklin Templeton.
“Azure Databricks continues to be an impressive solution that brings the latest advances in open, flexible and scalable data and AI capabilities to our customers,” said Scott Guthrie, Executive Vice President, Cloud + AI, Microsoft Corp. “Our investment underscores the vision we share with Databricks of simplifying data and AI for our customers. Together, we will continue to build on the success of Azure Databricks and seamless integrations across Azure data services to enable cloud-scale analytics and AI on Azure.”
Other existing and new Investors that participated in this funding round include: Discovery Capital, Dragoneer Investment Group, Founders Circle Capital, Geodesic, GIC, Green Bay Ventures, Greenoaks Capital, New Enterprise Associates (NEA) and Octahedron Capital.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : RAJENDRA SINGH PAWAR
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT ...
Icons Of India : Dilip Asbe
At present, Dilip Asbe is heading National Payments Corporation of Ind...
Icons Of India : Dr. Arvind Gupta
Arvind Gupta is the Head and Co-Founder of the Digital India Foundatio...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
BSE - Bombay Stock Exchange
The Bombay Stock Exchange (BSE) is one of India’s largest and oldest...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - Soni Jiandani, Co-Founder- Pensando Systems
Soni Jiandani, Co-Founder of Pensando Systems, is a tech visionary ren...
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...