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10 Cool Tech Companies That Raised Funding In February 2021

Cybersecurity and big data innovators were among the companies that reported new rounds of funding in February.

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Databricks

Headquarters: San Francisco

CEO: Ali Ghodsi

Funding: $1 Billion Series G, putting Databricks’ post-money valuation at $28 billion.

Investors: The latest funding round was led by new investor Franklin Templeton, joined by other new investors Canada Pension Plan Investment Board, Fidelity Management & Research LLC and Whale Rock, along with new “strategic investors” Amazon Web Services, CapitalIG and Salesforce Ventures.

Earlier investors that participated in the latest round included Microsoft, Andreessen Horowitz, Alkeon Capital Management, Coatue Management, Tiger Global Management, funds and accounts managed by BlackRock, and funds and accounts advised by T. Rowe Price Associates Inc.

Other new and existing investors that participated in the round included Discovery Capital, Dragoneer Investment Group, Founders Circle Capital, Geodesic, GIC, Green Bay Ventures, Greenoaks Capital, New Enterprise Associates (NEA) and Octahedron Capital.

What Databricks Does: Databricks, founded in 2013 by the developers of the popular Spark big data processing engine, has been one of the hottest IT startups in recent years and observers expect an IPO sometime this year.

The company’s product portfolio includes the Databricks Unified Data Service and the Databricks Lakehouse Platform – the latter a system that combines attributes of traditional data warehouse systems and data lakes used to store huge volumes of unorganized data.

The company also develops big data tools such as the Delta Engine query execution software, introduced in June, and SQL Analytics for running SQL queries against massive data lakes, which debuted in November.

CEO Quote: “We see this investment and our continued rapid growth as further validation of our vision for a simple, open and unified data platform that can support all data-driven use cases, from BI to AI.”

 

 
 
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