 and Mr Timo Kratzer, Head of Lens Product Development at ZEISS Vision Care (back row, right), Mr Kelvin Wong, Director of Knowledge Transfer and Entrepreneurship of PolyU (front row, left) and Dr Benjamin Viering, Chief Technology Officer and Chief Operating Officer of ZEISS Vision Care (front row, right) sign)
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New EU-funded project to boost smart agriculture in Mekong Delta
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Company Experiences >2.5x YoY ARR growth; Exceeded $200M Revenue Run Rate During Q3 2019
SYDNEY,AUSTRALIA - Media OutReach - October 23, 2019 - Databricks , theleader in unified data analytics, today announced a $400 million investment tocontinue powering its market-leading growth and rapid customer adoption. ThisSeries F round, led by Andreessen Horowitz's Late Stage Venture Fund , isintended to accelerate innovation and scale across the globe, and valuesDatabricks at $6.2 billion. Andreessen Horowitz is joined by major newinvestors including funds and accounts managed by BlackRock, Inc., funds andaccounts advised by T. Rowe Price Associates, Inc., and Tiger GlobalManagement. The company has grown annual recurring revenue (ARR) well over 2.5xover the past year and has gone from almost no revenue to a $200 millionrevenue run rate in less than four years.
"Data teams at thousands oforganizations globally are now leveraging our Unified Data Analytics Platformto solve their toughest problems," said Ali Ghodsi, co-founder and CEO atDatabricks. "Our bets on massive data processing, machine learning, open sourceand the shift to the cloud are all playing out in the market and resulting inenormous and rapidly growing global customer demand. As a result, Databricks isamong the fastest growing enterprise software cloud companies on record."
The new investment will allow the companyto scale R&D and continue its rapid global expansion. Specifically,Databricks will:
- Invest 100 million Euros in its recently announced European Development Center in Amsterdam over the next three years; this engineering hub has already grown 3x over the past two years.
- Build dedicated engineering teams to advance the popular open source technologies it invented recently for data management and machine learning: Delta Lake, MLflow, and Koalas.
- Fuel its rapid and accelerating global growth, which includes expansion in Europe, Middle East and Africa; Asia Pacific; and Latin America.
"Databricks' net revenue retention isastounding," said David George, general partner at Andreessen Horowitz. "Why?Because customers love the product. Beyond that, they've followed up theirbreakthrough Spark technology with an amazing series of open source innovationsincluding Delta Lake, MLflow, and Koalas."
Investors that participated in thisfunding round included Alkeon Capital Management, Andreessen Horowitz, fundsand accounts managed by BlackRock Inc., Coatue Management, Dragoneer InvestmentGroup, Geodesic, Green Bay Ventures, Microsoft Corporation, New EnterpriseAssociates (NEA), funds and accounts advised by T. Rowe Price Associates, Inc.and Tiger Global Management.
