Databricks, a company specializing in data analytics, has secured $4 billion in investment at a $134 billion valuation. Participants in this funding round included Insight Partners, Fidelity Management & Research Company, JPMorgan Asset Management, and Andreessen Horowitz.
The company plans to use the funds to help its customers build AI applications and agents based on their own data.
Founded in 2013 by a group of scientists, Databricks develops software for the fast processing and preparation of large-scale data for analysis. The company has gained recognition for its alternative technology for storing massive and diverse data sets. Its solutions enable businesses to easily deploy, manage, and update cloud-based applications.
Additionally, Databricks develops open-source AI models. For example, in 2023, the company released its open-source model DBRX to the public.
