Oct 23, 2019 - Technology

Analytics company Databricks raises $400 million in Series F

Databricks, a San Francisco-based data analytics SaaS company, raised $400 million in Series F funding led by Andreessen Horowitz at a $6.2 billion valuation.

Why it matters: Because this one can legitimately lay claim to all the hottest enterprise software buzzwords, from open-source to machine learning to cloud.

  • In short, its big promise is to help customers add AI to existing business software — kind of SaaS-upon-SaaS. Plus, it just added the CFO who helped take Splunk public.
  • Other investors include Alkeon Capital Management, BlackRock, Coatue, Dragoneer, Geodesic, Green Bay Ventures, NEA, T. Rowe Price, and Tiger Global.

The bottom line: "Databricks' platform is used by enterprises to analyze data, build data pipelines across siloed storage systems and prepare labeled datasets for model building. The idea is that organizations can then use the platform to train machine learning and other AI models using their existing data, writes SiliconAngle's Mike Wheatley.

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