Databricks and Nvidia are building transformative AI technology.

Edward Gately, Senior News Editor

September 14, 2023

2 Min Read
Nvidia Among Backers of $500 Million DataBricks Funding Round
EtiAmmos/Shutterstock

Databricks, the data and artificial intelligence (AI) company, has raised more than $500 million in Series I funding, which values the company at $43 billion.

T. Rowe Price led the Series I funding round, joined by new investors Capital One Ventures, Ontario Teachers’ Pension Plan and strategic investor Nvidia.

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.

Series I Funding Reflects Databricks’ Continued Momentum

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Databricks’ Ali Ghodsi

Ali Ghodsi, Databricks‘ co-founder and CEO, said the commitment from long-term focused strategic and financial partners reflects his company’s 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.

“Databricks and Nvidia are building transformative AI technology, and we’re excited about the business value and innovation we can bring to our customers,” he said.

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Nvidia’s Jensen Huang

“Enterprise data is a goldmine for generative AI,” said Jensen Huang, Nvidia’s founder and CEO. “Databricks is doing incredible work with Nvidia technology to accelerate data processing and generative AI models.”

The support from Databricks’ financial and strategic partners comes on the heels of its second-quarter momentum, which includes:

  • Crossing a $1.5 billion revenue run rate at over 50% revenue year-over-year growth with the second quarter representing the strongest quarterly incremental revenue growth in Databricks’ history.

  • Ending the quarter with more than 10,000 global customers, including 300 customers consuming at more than a $1 million annual revenue run rate.

  • Closing its acquisition of MosaicML, a generative AI platform.

  • Delivering 20 product and feature releases at the Data and AI Summit in June with over 30,000 global attendees.

“Data and AI have rapidly become the centerpiece of many business strategies,” said Alan Tu, lead private equity analyst at T. Rowe Price. “Databricks has not only pioneered the Lakehouse category with a world-class team and product, but it is now also at the forefront of generative AI for the enterprise. We’re proud to extend our investment at such a pivotal time for the company, its customers, and the data and AI industry.”

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About the Author(s)

Edward Gately

Senior News Editor, Channel Futures

As news editor, Edward Gately covers cybersecurity, new channel programs and program changes, M&A and other IT channel trends. Prior to Informa, he spent 26 years as a newspaper journalist in Texas, Louisiana and Arizona.

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