Databricks – a renowned Data and AI company – recently announced additional closings of its recent Series I funding. Existing investors Amazon Web Services (AWS), CapitalG, and Microsoft, along with new investors AT&T Ventures, Qatar Investment Authority (QIA), and Sanabil Investments, participated in the funding round, putting the company at a $43 billion post-money valuation.
Databricks’ platform unifies data, analytics, and AI on a single platform so customers can govern, manage, and derive insights from enterprise data and build their generative AI solutions faster. And the Series I funding will be used to accelerate the development of transformative AI technology, Gen AI research, and hiring AI data scientists and engineering talent.
AT&T Ventures, AWS, CapitalG, Microsoft, QIA, and Sanabil joined the previously announced investors participating in the Series I funding, including Andreessen Horowitz, Baillie Gifford, Capital One Ventures, ClearBridge Investments, funds and accounts managed by Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, Gaingels, Ghisallo Capital Management, GIC, NVIDIA, Octahedron Capital, Ontario Teachers’ Pension Plan, funds and accounts advised by T. Rowe Price Associates, Inc. and Tiger Global.
KEY QUOTES:
“The interest we received from investors and strategic partners for this round of funding has been overwhelming, and we are excited to add AT&T and QIA, among others, who believe in our vision and business strategy. Generative AI adoption is a top priority for every CEO today. Databricks’ multicloud architecture enables organizations to preserve privacy and control over their data when moving to AWS, Google Cloud, or Microsoft Azure to build Gen AI solutions. With our partners, we can accelerate the development of our platform and deliver business value faster for our customers.”
— Ali Ghodsi, Co-Founder and CEO of Databricks
“As an early pioneer of AI, we know just how foundational this technology is to the future of business and society. For years AI has enabled our network, services, and people to be more efficient, effective, and creative. Our AT&T Ventures team fosters game-changing companies, like Databricks, that help drive connectivity innovation forward. Through our work with Databricks, we’ve seen first-hand the business value they provide and we’re excited to deepen our relationship with them as we help usher in a connected generative AI generation.”
– Andy Markus, CDO, AT&T
“AI represents a profound technology shift, and our investment in Databricks reflects our belief in its platform, which is expertly able to unify data, analytics, and AI. This investment is aligned with QIA’s investment approach to invest in forward-looking, tech-led companies, many of which are building AI seamlessly into their product and offerings. We are pleased to be an investor in Databricks and look forward to a fruitful, long-term partnership as the company scales.”
– Mohammed Al-Hardan, Head of Technology, Media and Telecoms (TMT) investments at QIA
