Databricks wanted to raise $1B, investors wanted $15B. It settled on $5B at a $190B valuation.
Databricks says investor demand reached $15 billion before it chose a $5 billion round.
CEO Ali Ghodsi told TechCrunch the company originally wanted to raise $1 billion, but inbound interest surged after a report about a larger fundraise. Databricks disclosed the round at a $190 billion valuation, with Coatue, Blackstone, MGX, T. Rowe Price-linked accounts, Sixth Street Growth, and roughly two dozen VCs participating. Ghodsi said the company has $7 billion in annualized revenue run rate, is cash-flow positive, and needs capital for AI costs, cloud commitments, research, and acquisitions. TechCrunch AI's note
CEO Ali Ghodsi told TechCrunch the company originally wanted to raise $1 billion, but inbound interest surged after a report about a larger fundraise. Databricks disclosed the round at a $190 billion valuation, with Coatue, Blackstone, MGX, T. Rowe Price-linked accounts, Sixth Street Growth, and roughly two dozen VCs participating. Ghodsi said the company has $7 billion in annualized revenue run rate, is cash-flow positive, and needs capital for AI costs, cloud commitments, research, and acquisitions. TechCrunch AI's note
score 9