Databricks CEO says fresh $1B will help him attack a new AI database market
Databricks is in the process of closing a fresh round at a $100 billion valuation, sources confirmed to TechCrunch. The round was originally reported by the Wall Street Journal. A source familiar with the deal tells TechCrunch exclusively the new round is about $1 billion, and was wildly oversubscribed. Databricks, best known for its data analytics products, refrained from selling even more equity because it didn’t need cash for operations after its once record-breaking $10 billion raise at a $62B valuation in January, according to the source. (OpenAI has since squashed the record with a $40 billion raise in March.) The round was co-led by both Thrive and one of Databrick’s early investors, Insight Partners, TechCrunch has learned. These two firms led the last round, as…
