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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.

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