Databricks Raises $10B

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TWiST500

Today, Databricks, a TWiST500 company and regular feature, has just closed a record-breaking $10 billion funding round, valuing the company at $62 billion. This surpasses OpenAI’s $6.5 billion raise from earlier this year and signals that, despite a shaky market, investor enthusiasm for AI is alive and well. Thrive Capital led the round, with participation from Andreessen Horowitz and Insight Partners.

What’s interesting here isn’t just the size of the raise—it’s how Databricks has positioned itself as a cornerstone of AI infrastructure. With a $3 billion revenue run rate projected by January and over 500 customers paying $1M+ annually, they’ve proven that their pivot to AI-driven data was the right call (even if it was initially met with skepticism).

The funding also reflects a growing trend among late-stage startups: offering employees liquidity through secondary share sales while delaying an IPO. Databricks has the numbers to go public, but why rush? With Snowflake in its sights and IPO windows cracking open for 2025, Databricks has time—and $10 billion in fresh capital—to make its next move. — Maddie

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