Databricks Surpasses $4B Revenue Run-Rate, $1B from AI Revenue

ByRicardo

Company is closing $1B Series Okay at >$100B valuation

Databricks, the Data and AI firm, in the present day introduced it has crossed a $4 billion income run-rate throughout Q2, rising >50% yr over yr. Databricks’ AI merchandise additionally not too long ago crossed a $1 billion income run-rate. The firm has additionally achieved optimistic free money move during the last 12 months. Finally, the corporate is closing its Series Okay funding, elevating $1 billion of capital. This funding values the corporate at over $100 billion and is co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management.

Databricks’ Recent Performance
This new funding comes on the heels of sturdy momentum for Databricks, which incorporates:

  • Surpassing $4 billion income run-rate, rising >50% yr over yr.
  • Recently exceeding $1 billion income run-rate for its AI merchandise.
  • Achieving optimistic free money move during the last 12 months.
  • Net retention fee sustaining >140%.
  • 650+ prospects consuming at over $1 million annual income run-rate.

Series Okay Investment
Databricks will use the brand new capital to speed up its AI technique — increasing Agent Bricks, launching the brand new Lakebase class, and fueling world development. At the June Data + AI Summit, Databricks launched a brand new product, Agent Bricks, which builds high-quality, manufacturing AI brokers optimized in your enterprise knowledge, and Lakebase, a brand new class of operational databases (OLTP) constructed on open supply Postgres, and optimized for AI brokers. The funding will even assist future AI acquisitions and deepen AI analysis.

“Our groups are placing up these outcomes by constructing the information and AI infrastructure enterprises will depend on for many years,” mentioned Ali Ghodsi, Co-Founder and CEO of Databricks. “With this new capital, we are able to transfer even sooner with Agent Bricks, serving to prospects in each business flip their knowledge into manufacturing AI brokers, and carry extra momentum as we create the brand new Lakebase class, reinventing databases for AI brokers.”

Continued Momentum
Databricks’ new capital comes amid growing development and growth. During the 2 prior quarters, Databricks launched or expanded partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir. Additionally, this yr the corporate signed new workplace leases in San Francisco and Sunnyvale to draw prime AI expertise.

The Databricks Data Intelligence Platform democratizes entry to knowledge and AI, making it simpler for organizations to harness the ability of their knowledge for analytics and AI apps and brokers. Built on an open supply basis, the platform permits organizations to drive innovation to extend income, decrease prices, and cut back danger.

The put up Databricks Surpasses $4B Revenue Run-Rate, $1B from AI Revenue first appeared on AI-Tech Park.

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