AI startup Databricks raised $1 bn at a $28 bn valuation led by the investment firm Franklin Templeton and includes Amazon Web Services, the Google investment arm Capital G and Microsoft, a previous investor. Many other prominent investors like Salesforce, Canada Pension Plan Investment Board, Fidelity Management & Research LLC and Whale Rock, also participated.
The startup, which develops technology that delivers improved analytics to cloud computing platforms, has some 5,000 customers, including 40% of Fortune 500 companies, which use the service for data engineering. The latest influx will enable Databricks to expand its "lakehouse" architecture, which draws data from various sources to help improve analytics.
"We see this investment and our continued rapid growth as further validation of our vision for a simple, open and unified data platform that can support all data-driven use cases, from BI (business intelligence) to AI," said Ali Ghodsi, Databricks chief executive and co-founder.