Databricks concludes Series I funding round with extra contributions from strategic partners

November 16, 2023

Databricks, a leading Data and AI company, has revealed additional closings of its recent Series I funding round. The funding saw participation from existing investors Amazon Web Services (AWS), CapitalG, and Microsoft, as well as new investors AT&T Ventures, Qatar Investment Authority (QIA), and Sanabil Investments. This funding round has elevated the company's post-money valuation to $43 billion. The Series I funds are earmarked to expedite the development of transformative AI technology, advance Gen AI research, and facilitate the hiring of AI data scientists and engineering talent.

Ali Ghodsi, Co-Founder and CEO of Databricks, expressed enthusiasm about the overwhelming interest from investors and strategic partners, welcoming new participants such as AT&T and QIA. Ghodsi emphasized the significance of Generative AI adoption for CEOs and highlighted Databricks' multicloud architecture, enabling organizations to maintain data privacy and control while leveraging platforms like AWS, Google Cloud, or Microsoft Azure to build Gen AI solutions. The partnership with investors is expected to accelerate the platform's development, delivering enhanced business value to customers. Databricks' platform integrates data, analytics, and AI on a unified platform, empowering customers to govern, manage, and extract insights from enterprise data and expedite the creation of their generative AI solutions.

Andy Markus, Chief Digital Officer at AT&T, underscored the profound impact of AI on business and society, expressing excitement about deepening the relationship with Databricks. He highlighted the company's contribution to connectivity innovation and acknowledged the business value it provides.

Mohammed Al-Hardan, Head of Technology, Media, and Telecoms (TMT) Investments at QIA, emphasized the transformative potential of AI and the alignment of their investment with Databricks' unified platform. He expressed pleasure in becoming an investor and anticipated a fruitful, long-term partnership as the company continues to scale.

AT&T Ventures, AWS, CapitalG, Microsoft, QIA, and Sanabil joined a roster of previously announced investors participating in the Series I funding, including Andreessen Horowitz, Baillie Gifford, Capital One Ventures, ClearBridge Investments, Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, Gaingels, Ghisallo Capital Management, GIC, NVIDIA, Octahedron Capital, Ontario Teachers’ Pension Plan, T. Rowe Price Associates, Inc., and Tiger Global.

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