Databricks has raised $1.8 billion in funding from investors, bringing the data, analytics, and AI platform’s total funding to approximately $7 billion.
This has been reported by Bloomberg and CNBC citing sources. Databricks declined to comment on the report. Databricks announced in December that it had raised $4 billion in a Series L funding round, raising its valuation to a record high of $134 billion.
The capital injection followed a year of strong financial performance. The data analytics software company generated annual revenues of over $4.8 billion, representing growth of more than 55% compared to the previous year.
Databricks also generated positive free cash flow over the past twelve months, which is considered a key indicator of a stable and mature business model in the tech sector.
Databricks, founded in 2013, focuses on data, artificial intelligence (AI), and machine learning. It is best known for its unified data analytics platform, which aims to simplify and streamline working with large amounts of data.
