Databricks raises US$1.6 billion at US$38bn valuation

Data and AI solutions provider Databricks has announced the completion of its newest funding round. The Series H round closed at US$1.6 billion, putting Databricks’ valuation at US$38 billion.

The round was led by Counterpoint Global (Morgan Stanley), with participation from new investors such as Baillie Gifford, ClearBridge Investments and UC Investments. 

Existing investors who participated include Andreessen Horowitz, funds and accounts managed by BlackRock, Canada Pension Plan Investment Board (CPP Investments), Coatue Management, Fidelity Management & Research, Franklin Templeton, GIC, Greenoaks, Octahedron Capital, funds and accounts managed by T. Rowe Price Associates Inc., Tiger Global Management and Whale Rock Capital Management.

Databricks plans to use the new capital injection to speed up innovation and bolster adoption of the data lakehouse.

As part of its dedication to the acceleration of lakehouse adoption globally, Databricks also appointed former Salesforce executive, Andy Kofoid, as President of Global Field Operations.