Databricks, the Data and AI company, has announced the final closing of their recent Series H funding. Cloud leaders and existing investors Amazon Web Services (AWS), CapitalG, and Microsoft will participate in Databricks’ $1.6 billion round of funding, which puts the company at a $38 billion post-money valuation. The Series H funding will be used to accelerate innovation and adoption of the lakehouse as the data architecture’s popularity across data-driven organizations continues to grow.
“We are delighted to once again include our most strategic partners in this latest round of funding, as it validates our vision for an open and unified approach to data and AI on any cloud,” said Ali Ghodsi, Co-Founder and CEO of Databricks. “As we jointly make more organizations successful in their move to the cloud and accelerate adoption of the lakehouse architecture, we’re excited to see these partnerships – and the ecosystems formed around them – continue to grow for decades to come.”
A statement made by the company informed, “Databricks has pioneered a simple and open architecture for data and AI, which brings the reliability, governance, and performance of a data warehouse directly to the data lakes that most organizations already store all of their data in. Rather than being forced to move data out of the data lake, and between various disconnected and legacy systems for different use cases, Databricks customers are building analytics platforms on AWS, Microsoft Azure, and Google Cloud to support every data and analytics workload in a single, unified location.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.