Databricks, provider of the leading Unified Analytics Platform and founded by the team who created Apache Spark™, announced it has secured $140 million in a Series D funding round led by Andreessen Horowitz. New Enterprise Associates and Battery Ventures also participated. The new funding brings Databricks’ total capital raised to $247 million, and will accelerate the company’s investment in making Artificial Intelligence (AI) achievable for enterprise organizations with its Unified Analytics Platform.
With the most recent market estimates predicting global AI revenue will reach $36.8 billion by 2025[1], the opportunity for Databricks and its customers is undeniable. While almost every business is exploring how they can use artificial intelligence for competitive advantage, very few are able to do so effectively today. Getting from big data to AI can be both complex and costly. With its Unified Analytics Platform, Databricks is successfully eliminating barriers to make data science and artificial intelligence approachable to a broader audience across both enterprise and mid-market organizations.
Building on the tremendous adoption of its Unified Analytics Platform, Databricks will use this funding to:
- Increase product investment in its Unified Analytics Platform, which accelerates innovation by unifying data science, data engineering and business;
- Accelerate its global growth strategy;
- Expand its markets through industry-specific solutions for a range of industries including Healthcare & Life Sciences, Financial Services, Government, and Media & Entertainment, and;
- Grow its engineering and customer success teams that deliver world-class Spark expertise and global support for Databricks’ leading Spark-based cloud platform.
In addition to Battery Ventures, other new investors that participated in this funding round included Future Fund Investment Co., A.Capital Partners, Geodesic Capital and Green Bay Ventures.
[1] http://mobilebusinessinsights.com/2017/06/14-ai-research-statistics-that-map-the-future-of-business/
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