logo
Plus   Neg
Share
Email

Databricks Worth $2.75 Bln After Raising $250 Mln From Andreessen And Microsoft

Databricks said it has secured $250 million in a Series E funding round led by Andreessen Horowitz. Coatue Management, Microsoft, and New Enterprise Associates also participated.

The most recent round of funding brings Databricks' total amount raised to $498.5 million and raises the company's valuation to $2.75 billion. The rapidly growing global demand for Databricks' Unified Analytics Platform led the company to exceed $100 million in annual recurring revenue during 2018 and experience approximately 3x year-over-year growth in subscription revenue during the last quarter of 2018.

Over 2,000 organizations globally, such as Nielsen, Hotels.com, Overstock, Bechtel, Shell and HP, are leveraging Databricks to unify data science and data engineering teams across the end-to-end data and machine learning lifecycle.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Streaming giant Netflix Inc. (NFLX) announced that it secured rights to Jeff Smith's critically acclaimed comic book series BONE. Netflix said it plans to develop an animated kids series based on BONE that follows the iconic Bone cousins on an adventure through a vast, uncharted desert and into a... Swedish luxury auto maker Volvo Cars unveiled its first fully electric car, the XC40 Recharge. The XC40 Recharge is a part of the electrified car portfolio that Volvo plans to introduce under the new 'Recharge' sub-brand. The company said it plans to launch a fully electric car every year over the... Microsoft Corp. (MSFT) on Thursday announced that it is teaming up with Nuance Communications Inc. to help physicians focus more on patients and spend less time on admin works. Both the companies to plan to revamp hospital exam rooms with artificial intelligence and natural language processing, creating...
Follow RTT
>