IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

Databricks officially valued at $38 billion following latest funding round

By Catherine Knowles
Wed 1 Sep 2021

Databricks has officially completed its $1.6 billion round of funding, reaching a $38 billion post-money valuation.

According to the company, the funds will be used to continue to accelerate innovation and adoption of the data lakehouse, as data architectures grow in popularity across data-driven organisations.

The Series H funding was led by Counterpoint Global (Morgan Stanley). The company was joined by other new investors including Baillie Gifford, ClearBridge Investments and UC Investments.

Existing investors participating in the round include Andreessen Horowitz, funds and accounts managed by BlackRock, Canada Pension Plan Investment Board (CPP Investments), Coatue Management, Fidelity Management & Research, Franklin Templeton, GIC, Greenoaks, Octahedron Capital, funds and accounts managed by T. Rowe Price Associates, Tiger Global Management and Whale Rock Capital Management.

As further commitment to accelerate lakehouse adoption globally, Databricks also announced the appointment of former Salesforce executive, Andy Kofoid, as president of global field operations.

As the world's first lakehouse platform in the cloud, Databricks pioneered an open and unified architecture for data and AI. This brings reliability, governance and performance of a data warehouse directly to the data lakes that most organisations already store all of their data in, the company states.

Rather than being forced to move data out of the data lake, and between various disconnected and legacy systems for different use cases, Databricks customers are building lakehouses on AWS, Microsoft Azure and Google Cloud to support every data and analytics workload on a single platform, according to the company.

As a result, they’re able to avoid architectural complexity, reduce infrastructure costs, increase data team productivity, and innovate faster.

Moving forward, the company states it intends to invest in innovations that further simplify AI, preserve choice and flexibility across all major public clouds, and establish the lakehouse as a modern replacement to the legacy data warehouse.

These activities are driven by open standards, cloud adoption and the continued rise of machine learning applications, Databricks states.

In addition, under Kofoid's leadership, the company will invest to accelerate adoption of the Databricks Lakehouse Platform globally, by entering new markets, enabling and growing its partner ecosystem, and building a broad catalog of industry solutions.

Databricks cofounder and CEO Ali Ghodsi says, “This new investment is a reflection of the rapid adoption and incredible customer demand were seeing for the Databricks Lakehouse Platform and underscores the industry and investor confidence in our vision - that lakehouse is the data architecture of the future.

"This marks a thrilling new chapter that will allow us to accelerate our pace of innovation and further invest in the success of data-driven organisations on their journey to the lakehouse.”

Counterpoint Global head Dennis Lynch says, “We’re incredibly excited to partner with the world class team at Databricks whose lakehouse platform is reinventing analytics with the speed and scale customers require today.

"We believe the company is well positioned to become a platform of choice among forward thinking enterprises that want to transform valuable data into strategic business insights.”

Other existing and new investors that participated in this funding round include: Alta Park Capital, a suite of BNY Mellon funds, Discovery Capital, Dragoneer Investment Group, Flucas Ventures, Gaingels, Geodesic, Green Bay Ventures, the House Fund, Insight Partners and New Enterprise Associates.

Related stories
Top stories
Story image
AGVs
Bridgestone Australia uses Dematic's AGVs to optimise warehouse operations
Bridgestone Australia has deployed Dematic's Automated Guided Vehicle solution across its new Melbourne warehouse in Truganina.
Story image
Adobe
Marketplacer and Adobe accelerate partnership for enhanced commerce solutions
Marketplacer has accelerated its partnership with Adobe in order to further enhance the global commerce marketplace.
Story image
Capital
Rubber Monkey gears up for Aussie market with latest capital raise
Rubber Monkey is seeking to raise up to NZ$2.5 million of new capital through online investment platform, Snowball Effect.
Story image
ABI Research
NaaS market expected to reach $150B by 2030 - research
"The market is immature and fragmented, but telco market revenue will exceed US$75 billion by 2030 if they act now and transform to align with requirements."
Story image
Supply chain
Supply chains continue to be disrupted, enterprises embrace circular economy
“Businesses urgently need to find a solution that can help them to manage this disruption, and transition to a circular economy."
Story image
Sustainability
Honeywell named Frankston facility services provider
Honeywell has been named the joint facility services provider for Frankston Hospital’s AU$1.1 billion redevelopment.
Story image
Remote Working
RDP attacks on the rise, Kaspersky experts offer advice
"Given that remote work is here to stay, we urge companies to seriously look into securing their remote and hybrid workforce to protect their data."
Story image
ASI Solutions
Western Australia CUA panel picks ASI as preferred supplier
Western Australia's Common User Arrangement (CUA) panel has chosen ASI Solutions as a preferred supplier for device hardware.
Project management
Discover the 4 crucial factors for choosing the right job-costing solution. Is your team struggling to cost jobs and keep projects running on budget?
Link image
Story image
Solutions
Progress launches latest version of network visibility solution
In Flowmon 12 network solution, Progress has expanded its support for public cloud provider flow log monitoring and launched new features.
Productivity
Discover the 5 ways your ERP may be letting you down. Is your current system outdated, difficult to manage, and costing you a fortune?
Link image
Story image
Artificial Intelligence
Accenture shares the benefits of supply chain visibility
It's clear that gaining better visibility into the supply chain will help organisations avoid excess costs, inefficiencies, and complexity to ultimately improve their bottom line.
Story image
Ransomware
Examining the future of ransomware threats with Vectra’s CTO
As customers' valuable data move to the cloud, so will ransomware. What is the current landscape and what do we need to know?
Story image
Recruitment
Thales on recruitment hunt for next disruptive innovations
"Recruiting new talent is part of Thales's belief in the power of innovation and technological progress to build a safer, greener and more inclusive world."
PwC
PwC's Consulting Business and PwC's Indigenous Consulting are proud to play an important role in helping Australian Indigenous Mentoring Experience build IMAGI-NATION, a free online university for marginalised communities around the world.
Link image
Story image
Artificial Intelligence
Decision Inc. partners with provenio.ai to expand offering
Decision Inc. Australia has partnered with provenio.ai to expand its offering to clients in the retail, FMCG, manufacturing, supply chain and logistics sectors.
Story image
Documentation
Adobe study finds lack of digital trust and utilisation in Australian Government agencies
New research commissioned by Adobe has revealed a significant lack of digital trust within Australian Government departments, along with the continued underutilisation of key digital processes.
Story image
SOTI
Australian consumers loyal to retailers who deliver speed and visibility
SOTI finds extensive order visibility and speed are the most important factors for turning one-off customers into loyal, long-term buyers.
Story image
Artificial Intelligence
Siemens expands NVIDIA partnership for industrial metaverse
Siemens is expanding its partnership with NVIDIA to enable the industrial metaverse and increase the use of AI-driven digital twin technology.
Story image
Artificial Intelligence
Salesforce announces new innovations for financial services
Salesforce has launched expanded financial services that offer more targeted and trusted automation to help teams unlock insights, deliver better customer service, and drive operational efficiencies.
Story image
Digital Fingerprint
Decline in counterfeit cherries after digital fingerprinting
Reid Fruits says there’s been a dramatic decline in counterfeit products for its cherries over the past three export seasons to Asia because of digital fingerprinting.
Story image
Payroll
How New South Wales state departments achieved cloud migration success
State departments in New South Wales are heading to the cloud to achieve better workflow solutions, and one company is paving the way for their success.
Story image
Document Management
NZ's FileInvite raises $10M in latest investment round
FileInvite has raised $10 million in Series A investment to fast-forward the extinction of email for requesting and collecting documents online.
Story image
Apple
Jamf introduces new content filtering solution for education providers
Jamf has announced the launch of Jamf Safe Internet, a new offering that looks to deliver a safe online experience to students while offering better management options for admins.
Story image
Cybersecurity
Without trust, your security team is dead in the water
The rise of cyberattacks has increased the need for sound security that works across any type of business, but with any change, buy-in is essential. Airwallex explains why.
Story image
Low-code
Appian unveils low-code certification program in Australia
Appian has announced a program to provide the next generation of low-code developers with access to education on the subject and certification to foster career opportunities.
Story image
Samsung
Monitors are an excellent incentive for getting employees back
The pandemic has taught us that hybrid working is a lot easier than we would’ve thought, so how can the office be made to feel as comfortable as home? The answer could be staring you in the face right now.
Story image
Enterprise Resource Planning / ERP
Five ways your ERP is letting you down and why it's time for a change
Wiise explains while moving to a new system may seem daunting, the truth is that legacy systems could be holding your business back.
Story image
Security Information and Event Management (SIEM)
LogRhythm updates SIEM Platform with latest innovations
LogRhythm has announced the launch of version 7.9 of the LogRhythm SIEM Platform and updates to LogRhythm NDR and LogRhythm UEBA.
Story image
Cybersecurity
How organisations can mitigate IoT and IIoT security risks
IoT and IIoT come with inherent risks because they are often deployed faster than they can be secured, putting organisations in danger of cyber threats. Here are tips on how to mitigate those risks.
Story image
Airwallex
How Airwallex helps businesses achieve globalisation success
As markets continue to shift, businesses need to be able to provide the same quality of service for customers regardless of where they are located around the world.
PwC
WSLHD and PwC’s Consulting Business came together to solve through the challenges of COVID-19. A model of care was developed to the NSW Health Agency for Clinical Innovation guidelines with new technology platforms and an entirely new workforce.
Link image
Story image
Data Protection
Five signs your business is ready to move to the cloud
Many organisations are thinking about moving to the cloud. But what are the signs you are ready, and what are the reasons to move?
Story image
API
Industry-first comprehensive risk-based API security enhances protection
Application Programming Interfaces (APIs) have become a crucial part of operating web and mobile application businesses and are causing significant economic growth in the digital sector.
Story image
Cybersecurity
Tech and data’s role in the changing face of compliance
Accenture's study found that 93% of respondents agree or strongly agree new technologies such as AI and cloud make compliance easier.
Story image
Compliance
SentinelOne integrates with Torq to empower security teams
"With Torq, security teams can extend the power of SentinelOne to systems across the organisation to benefit from a proactive security posture.”
Story image
Wiise
Four things wholesale distributors need to consider for FY2023
In a post-pandemic world, there are many things for a distribution business to juggle. ERP solutions company Wiise narrows down what companies should focus on.
Story image
Accounting
Four factors to consider when choosing the right job accounting solution
Progressive job-based businesses can achieve success by strengthening their ability to quantify every cost attributable to the delivery of an outcome for a customer.
Story image
Metaverse
How the metaverse will change the future of the supply chain
The metaverse is set to significantly change the way we live and work, so what problems can it solve in supply chain management?
Digital Transformation
Discover the 5 signs your business is ready for a cloud-based ERP. Is your business being left behind as more of your competitors switch to the cloud?
Link image
Story image
Artificial Intelligence
Dynatrace extends automatic release validation capabilities
Dynatrace has extended its platform release validation capabilities to improve user experience at every stage of the software development lifecycle.
Story image
Artificial Intelligence
Vectra AI named as AWS security competency partner
Threat detection and response company Vectra AI has announced that it has become an Amazon Web Services Security Competency Partner.
Story image
Amazon
What brands can expect from Amazon Prime Day in Australia
Amazon Prime Day is the annual two-day shopping event, kicking off this year from July 12-13 and is the global online shopping platform's biggest sales event. 
Supply chain
Discover the 4 critical priorities for wholesale distribution businesses in FY23. Are you worried about how supply chain issues may affect your business in 2023?
Link image