Databricks Increases Value as it Breaks 0 Million ARR-databricks-funding-ai-data-analytics-1000x600.jpg

Databricks confirmed previous reports that it is raising new capital at higher valuations. The data and AI-focused company earned $1.6 billion at a $38 billion valuation. Bloomberg first reported last week that Databricks was seeking new capital at that price.

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Series H is led by Counterpoint Global, a Morgan Stanley fund. Other new investors include Baillie Gifford, UC Investments and ClearBridge. Previous investor catches were also kicked in cash this round.The new funding raises Databricks' total private funding to $3.5 billion.

especially The latest increase comes just seven months after the final startup raised $1 billion at a valuation of $28 billion. The new valuation represents a paper value creation in excess of $1 billion per month.A company that produces open source and commercial products for processing structured and unstructured data in one place.

Seeing the company's market as a new technology category, Databricks calls the technology data "lakehouse," a combination of data lake and data data.Ali Ghodsi, CEO and co-founder of Databricks, believes the new capital will help his company maintain its market leadership.