Big Data Analytics Startup Databricks Raises $140M In Funding

Databricks, startup developer of the Spark-based Unified Analytics Platform, has raised an astonishing $140 million in a Series D financing round led by Andreessen Horowitz.

New Enterprise Associates, Battery Ventures, Future Fund Investment Co., A. Capital Partners, Geodesic Capital and Green Bay Ventures also participated in the blockbuster funding round that brings the company's total raised capital to $247 million.

Databricks was founded in 2013 by the team at the University of California at Berkeley that created Apache Spark, the open-source data processing engine that's become a core component of many big data systems. Databricks' Unified Analytics Platform, used by data scientists to tackle large-scale data analytics and artificial intelligence problems, is based on Spark.

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"This funding will enable us to expand our offering and bring it to many more markets, enabling more businesses to reap the benefits of big data and AI," said Ali Ghodsi, Databricks' CEO and co-founder, in a statement.

Along with accelerating the development of its technology, Databricks will use the new funding to develop a range of industry-specific software for healthcare and life sciences, financial services, government, and media and entertainment, according to the company.

The San Francisco-based company also will invest in growing its engineering and customer support teams, and accelerate its expansion into international markets.

In its announcement of the new funding Databricks and the venture capital investors emphasized the applicability of the company's technology for artificial intelligence applications, a market that Databricks said would exceed $38 billion by 2025.

In July the company hired Michael Hoff as senior vice president of business development and partners, responsible for building and expanding Databricks' strategic alliances and scaling the company's global partner program. Hoff was previously vice president of partners and alliances at business analytics software developer Tableau, and before that worked at Microsoft in various roles for 15 years.

Databricks did not disclose its valuation. A story on the Forbes website said the company was valued at $500 million before this latest funding round and had sought a valuation in the area of $900 with this new infusion of capital.