Nvidia Among Backers of $500 Million DataBricks Funding Round

Databricks, the data and artificial intelligence (AI) company, has raised more than $500 million in Series I funding, which values the company at $43 billion.

T. Rowe Price led the Series I funding round, joined by new investors Capital One Ventures, Ontario Teachers’ Pension Plan and strategic investor Nvidia.

The Databricks Lakehouse unifies data, analytics and AI on a single platform so that customers can govern, manage and derive insights from enterprise data and build their own generative AI solutions faster.

Series I Funding Reflects Databricks’ Continued Momentum

Databricks’ Ali Ghodsi

Ali Ghodsi, Databricks‘ co-founder and CEO, said the commitment from long-term focused strategic and financial partners reflects his company’s continued momentum, the rapid customer adoption of the Databricks Lakehouse, and the success customers are seeing from moving to a unified data and AI platform.

“Databricks and Nvidia are building transformative AI technology, and we’re excited about the business value and innovation we can bring to our customers,” he said.

Nvidia’s Jensen Huang

“Enterprise data is a goldmine for generative AI,” said Jensen Huang, Nvidia’s founder and CEO. “Databricks is doing incredible work with Nvidia technology to accelerate data processing and generative AI models.”

The support from Databricks’ financial and strategic partners comes on the heels of its second-quarter momentum, which includes:

“Data and AI have rapidly become the centerpiece of many business strategies,” said Alan Tu, lead private equity analyst at T. Rowe Price. “Databricks has not only pioneered the Lakehouse category with a world-class team and product, but it is now also at the forefront of generative AI for the enterprise. We’re proud to extend our investment at such a pivotal time for the company, its customers, and the data and AI industry.”