PYMNTS.com January 22, 2025
Data and artificial intelligence firm Databricks is now a $62 billion company.
The company reached that valuation after closing a Series J funding round, taking in $10 billion in equity financing along with a $5.25 billion credit facility from several of the world’s biggest banks, according to a Wednesday (Jan. 22) press release.
The company will invest its capital in new AI products, acquisitions and the expansion of its international go-to-market operations, the release said. The funding will also help provide liquidity for current and former employees and paying related taxes.
The round included participation by QIA, the sovereign wealth fund of the State of Qatar, along with new investors Temasek and entities administered by Macquarie Capital, per the release....
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