Databricks is discussing a new fundraising round that could value the company at more than 130 billion, according to a report from a common noun that cited people familiar with the talks. This would represent an increase of around 30 percent compared with its last financing round completed only two months earlier. The company has declined to comment on the reported discussions.
According to the report, Databricks has not yet signed a term sheet with any potential investors. Independent confirmation of the talks was not immediately available. In September, the San Francisco based data analytics company closed a 1 billion funding round that placed its valuation at 100 billion, making it one of the most valuable private companies in the world.
At the time of that earlier round, the company said it was on track to reach 4 billion in annualized revenue. This growth was fuelled by strong demand for its artificial intelligence products. Databricks also said it planned to use the funds to push forward its artificial intelligence roadmap, expand its product line-up, introduce an operational database category and explore acquisitions and research opportunities focused on artificial intelligence.
Founded in 2013, Databricks offers a platform that enables users to ingest data, run analytics and build artificial intelligence applications. The company serves about 15,000 customers, including Block, Shell and Rivian. It has been viewed as a likely candidate for a public listing and continues to attract strong attention from investors.
Databricks remains a central player in the rapidly expanding artificial intelligence market and its latest funding discussions highlight the strong confidence investors continue to show in its growth path. As talks progress, the company’s next valuation milestone could further shape its position among the world’s leading private tech firms.
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