Romanian-founded Databricks raises $500M and reaches $43B in value

Databricks, a Romanian-founded company that works with data and develops AI software, has raised a new round of funding. The company managed to secure $500 million, boosting its valuation to $43 billion, TechCrunch reports.

• Founded in 2013 by Romanian entrepreneurs Ion Stoica and Matei Zaharia, as well as Reynold Xin and Ali Ghodsi, Databricks is an American enterprise software company. It develops a web-based platform for working with Spark, that provides automated cluster management and IPython-style notebooks.
• The fresh Round 1 amounted to $500 million. Before that, the company raised $1.6 billion back in August 2021.
• The company’s valuation reached $43 billion after the round. At the time of the last round, it was $38 billion, and this is one of the few cases when, after a new round, the valuation of a startup did not fall, but continued to grow.
• As of now, Databricks is one of the most expensive startups in the United States.
• The list of investors includes Morgan Stanley, Fidelity, Franklin Templeton, a16z, and Tiger Global.
• This is expected to be the last investment round, after which the company will start preparing for the IPO.

The company’s high rating is confirmed by its financial results. In the second quarter of this year, the company received a turnover of $1.5 billion. Databricks has more than 10,000 clients globally.