Databricks intends to invest the capital towards new AI products, acquisitions and significant expansion of its international go-to-market operations. Additionally, the funding is expected to be used towards providing liquidity for current and former employees as well as pay related taxes.
Data and artificial intelligence (AI) company Databricks is raising a US$10 billion ($13.5 billion) Series J funding round of expected non-dilutive financing, valuing the company at US$62 billion.
The company has completed US$8.6 billion thus far. The round is led by Thrive Capital and co-led by GIC, Andreessen Horowitz, DST Global, Insight Partners and WCM Investment Management.
