Aidan Daly
Artificial intelligence company Databricks is working to raise $10 billion in non-dilutive financing from its Series J funding round led by Thrive Capital, co-led by multiple organizations including Andreessen Horowitz and participated in by Ontario Teachers’ Pension Plan, plus a new investor group that includes ICONIQ Growth and Wellington Management.
Databricks said Tuesday that it has raised $8.6 billion so far in the funding round, which values the company at $62 billion.
Ali Ghodsi, co-founder and CEO of Databricks, said, “We were substantially oversubscribed with this round and are super excited to bring on some of the world’s most well-known investors who have a deep conviction in our vision.”
The company is benefiting from heightened interest in AI and plans to invest the capital towards new AI products and acquisitions as well as expand its international operations.
“We’re building transformative data and AI infrastructure and excited to move aggressively in service of our customers and their success,” Ghodsi added.
For his part, Joshua Kushner, CEO of Thrive Capital, said, “Databricks, driven by its mission to democratize data and AI, has emerged as the platform of choice.”
