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Databricks Secures $5.25B Credit Facility and Closes Series J Funding, Valued at $62B

Databricks is a global leader in data and AI, transforming how organizations harness their data to drive meaningful outcomes.

Databricks Secures $5.25B Credit Facility and Closes Series J Funding, Valued at $62B
Source: Databricks

Company Name: Databricks
Location: San Francisco, CA
Industry: Data and AI

Funding Details

  • Credit Facility: $5.25B
    • Breakdown: $2.5B unfunded revolver and $2.75B term loan.
    • Led by: JPMorgan Chase, alongside Barclays, Citi, Goldman Sachs, and Morgan Stanley.
  • Series J Equity Financing: Adds to the previously announced $10B.
    • Valuation: $62B.
    • Investors:
      • Existing: QIA (sovereign wealth fund of Qatar).
      • New: Temasek, Macquarie Capital entities, and Meta (strategic investor).

Purpose of Investment

  • Develop and launch new AI products.
  • Drive international go-to-market expansion.
  • Pursue strategic acquisitions.
  • Provide liquidity for current and former employees and cover related tax obligations.

Leadership

  • CEO: Ali Ghodsi

Product

Databricks provides data intelligence solutions to empower organizations to unlock value from their data for analytics, machine learning, and AI applications.

Key Features

  • Data Intelligence Platform: Built on an open-source foundation, it simplifies data management for analytics and AI, enabling organizations to innovate faster, lower costs, and reduce risks.
  • Widespread Adoption: Trusted by more than 10,000 organizations, including Block, Comcast, Condé Nast, Rivian, Shell, and over 60% of the Fortune 500.
  • Impactful Use Cases:
    • Early detection of diseases and cancer.
    • Combating climate change.
    • Detecting financial fraud.
    • Accelerating pharmaceutical development.
    • Reducing financial inequality and improving mental health intervention times.

About the Company

Databricks is a global leader in data and AI, transforming how organizations harness their data to drive meaningful outcomes. Its platform enables businesses to innovate, reduce costs, and mitigate risks while addressing some of the world's most critical challenges.

Future Plans

With the new capital infusion and strategic partnerships, Databricks aims to accelerate its mission of enabling data-driven innovation, expand its market presence globally, and continue its leadership in data and AI solutions.

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