Either the start-up company Databricks has one hell of a pitch deck, or this new business is sitting some truly amazing proprietary software. The company said this week it had raised $1 billion in new cash, and the list of investors is a who’s who of Silicon Valley and the tech industry.
Amazon Web Services, Alphabet’s CapitalG venture division, and Salesforce Ventures all have pumped in cash to Databricks recently, joining Microsoft, which was an earlier investor.
The reason blue chip big tech companies are so eager to be involved is because of the software Databricks has developed, which helps companies process large sets of data rapidly, and prepares the data for analysis.
Back in 2019, Databricks CEO Ali Ghodsi was interviewd on CNBC and said “we’re 100 percent cloud-native,” which is another reason they have secured so much funding up front.
These new cash infusions values Databricks at $28 billion, and it is clear evidence the three top U.S. cloud providers look at an investment into Databricks as a very safe one.
Databricks’ popularity sprung from their ability to help companies implement a version of Apache Spark, which is another option to use instead of Hadoop technology for massive data storage. It also helps clean up data for exploration in visualization software, including the Salesforce owned software called Tableau.