Saturday, November 25, 2017

Databricks tops $107.5m in funding

Latest round to fuel organisation’s ambitions of building the ultimate data analytics platform in the cloud.

Open source data analytics company Databricks has raised an extra $60m in Series C funding bringing the company’s total funding to date to $107.5m.

The round was led by New Enterprise Associates (NEA) and also saw the participation of Databricks’ existing investor Andreessen Horowitz.

The raised money is set to be applied in advance data science and engineering at scale to fuel the company’s desire of building the modern data analytics platform in the cloud with Apache Spark.

The company said the Series C funding round comes as Databricks deepens its commitment to open source Apache Spark and accelerates investment in its commercial product, the Databricks data platform.

“The current round of financing validates Databricks’ leadership as the first and only fully managed Spark platform in the cloud that instantly delivers a rich suite of reliability, usability, security, and compliance functionalities for data science, engineering, and IT teams,” a company statement reads.

The company will continue to expand its data platform to make data science and engineering at scale with Spark faster, and to integrate with other cloud providers to provide more flexibility for its global customer base.

Pete Sonsini, General Partner at NEA, said: “In 2016, we witnessed an acceleration in data processing workloads moving to the cloud.

“With its product vision and deep Spark expertise, Databricks is well-positioned to further drive this revolution.

“We are excited to partner with the team as they take their next generation cloud data platform to broader markets.”

Ali Ghodsi, CEO and Co-Founder at Databricks, said: “Apache Spark has enabled countless enterprises and cutting-edge early adopters to create business value through advanced analytics solutions.

“As Spark’s adoption and the demand for our managed Spark platform continues to rise, this funding will advance our engineering and go-to-market strategies to address all of our customer’s pain points as we continue to grow the Spark community.”