A source familiar with the deal tells TechCrunch exclusively that the new round is about $1 billion and was wildly oversubscribed. Databricks, best known for its data analytics products, refrained from selling even more equity because it didn't need cash for operations after its once record-breaking $10 billion raise at a $62 billion valuation in January, according to the source. (OpenAI has since squashed the record with a $40 billion raise in March.) The round was co-led by both Thrive and one of Databricks' early investors, Insight Partners, TechCrunch has learned. These two firms led the last round as well. The company has now raised about $20 billion since it was founded in 2013. This was a primary round, meaning it didn't include employees selling their shares. However, sources close to the company say Databricks has already had two secondary rounds for employees in 2025. Those offers allowed employees to sell up to 40%, 50%, or 60% of their shares, depending on the size of...
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