Databricks Scores $400 Million
This time, Databricks has raised $400 million in Series F funding, led by Andreessen Horowitz, according to a report from Reuters. Microsoft also joined in the funding. Its last funding round was in February when it raised $250 million. The funds will help accelerate research and development by adding more engineers to its staff.
This new funding round means its value has more than doubled since then. It has gone from $2.75 billion in February to now $6.2 billion valuation.
Databricks sells a cloud based software platform that companies use to analyze data to suit their specific needs. The platform helps customers complete mundane tasks that may not be exciting to humans.
“I call it boring A.I.,” Databricks CEO and co-founder Ali Ghodsi told Reuters. “Sexy A.I. is self-driving cars, and robots that are going to take over, and its the robots that are doing back-flips, and things like that. We’re sort of the boring A.I.-Under the hood, behind the scenes, actually automating a lot of things across lots and lots of enterprises, across many, many verticals.”