Andy Kofoid’s Post

🚀 Exciting times in the world of AI and data analytics! As M&A advisors at 733Park, we're thoroughly impressed by Databricks' outstanding fiscal performance. Their decision to postpone an IPO, despite a phenomenal growth rate of over 50% and achieving $1.6 billion in revenue, is a testament to their strategic foresight and the surging potential of AI-based companies. In an era where AI is not just a buzzword but a pivotal business tool, Databricks’ growth trajectory is a clear indicator of the immense value AI-driven platforms offer to enterprises. Their innovative approach - acting like a public company by self-reporting financial metrics, coupled with strategic investments in AI startups like Glean and MosaicML, reflects a deep understanding of the market and its needs. Their choice to delay an IPO in favor of further growth is brilliant, especially considering the current IPO market conditions. It exemplifies a confident stance in their business model and the AI boom. This decision resonates with many other tech firms capitalizing on the AI revolution and poised for favorable public offerings with high investor demand. We celebrate Databricks' remarkable achievements and visionary leadership in AI. Their story is a brilliant example of how businesses can thrive by strategically leveraging AI technology and making well-timed decisions in a volatile market. For an in-depth look into Databricks’ journey and decision-making process, check out the recent article from the Wall Street Journal titled "AI is Driving Record Sales at Multibillion-Dollar Databricks. An IPO Can Wait …". It provides valuable insights into why Databricks is a frontrunner in the AI-driven technological evolution. Looking forward to seeing more from Databricks and other AI-powered companies shaping the future of technology and business! Read the article here. https://lnkd.in/ezApiAgT? #Databricks #AI #TechnologyGrowth #MergersAndAcquisitions #StrategicDecisionMaking #Innovation #BusinessStrategy #TechLeadership #WallStreetJournal

Some BIG NEWS to share: Atlan has raised $105 million Series C to continue ushering in a new era of data + AI governance and democratization. We're deeply grateful for our investors that believe in our vision, including GIC, Meritech Capital, Salesforce Ventures, Peak XV Partners, Insight Partners, and WaterBridge Ventures. Our incredible team, relentlessly focused on our users, brings us momentum: 🔈 We achieved a remarkable 7x revenue growth over the past 2 years 🔈 Our product and service achieved an impressive 75% win rate in competitive trials 🔈 We’re serving the world’s largest data teams with a 400% surge in enterprise sales 🔈 Customers are loving their experience, making us a Leader in G2 grids for Data Governance, Catalog, DataOps, Quality, and Active Metadata What means even more to me, personally, is that industry leaders at world-class companies like Cisco, Autodesk, Fox Corporation, Nasdaq, HubSpot and more trust Atlan because we drive meaningful business value for data operations and serious quality of life improvements for the data teams that run them. Our aspirations are big — we are just getting started. Whether you are a data leader in search of a modern governance solution for enterprise or are thinking on joining the incredible team here at Atlan, please reach out. Let's talk about how we might work together. Learn more about the news: https://atln.cm/series-c

It's been an exciting few days at the #DataAISummit. A few announcement highlights: ➡️ Databricks is open sourcing Unity Catalog. Check out the details in VentureBeat: https://bit.ly/4ejmPZX ➡️ New Mosaic AI capabilities to help customers build production-quality GenAI applications. Read about the various innovations in TechCrunch: https://bit.ly/3Xst2Nj ➡️ Shutterstock ImageAI, Powered by Databricks, which is an example of the incredible models industry leaders like Shutterstock can build with Mosaic AI. Fast Company spoke to both companies for an exclusive deep dive: https://bit.ly/3KI5qwh ➡️ AI/BI, a new approach to business intelligence infused with data intelligence. Bloomberg got the scoop: https://bit.ly/3z8Pdh6 ➡️ LakeFlow, a new solution that unifies and simplifies all aspects of data engineering. TechCrunch got the exclusive: https://bit.ly/3RpWuzw We also shared that Databricks expects to cross $2.4 billion in annual revenue run rate in H1. CNBC covered what we shared with investors: https://bit.ly/4b4uZm5

🤔 Stuck choosing between Datadog and Snowflake for your AI stock investment? Discover which might provide a steeper edge in AI's dynamic market. Datadog's stronger profitability vs. Snowflake's innovative data solutions—where should your investment lie? 💡 Dive into prospects, potential risks, and future growth. Are you ready to align your portfolio with the right AI leader? 🚀 #Investment #AIStocks #Datadog #Snowflake 📊

And we’re live. 🚀 Today, we’re thrilled to announce we’re launching out of stealth with $10.5 million in funding to build a unified dataops platform. When co-founders Benjamin Segal & Geva Segal started Matia, they wanted to solve a real problem they saw in the data and engineering world. They were managing and scaling large teams, and relying on disparate tools to move their data to Snowflake and back to their SaaS platforms, another tool to leverage their data lineage, and another one to monitor their data pipeline quality. Their teams were full of talented engineers, but they were spending most of their time piecing together their data stack and investigating anomalies, rather than focus on their core job. So they spoke to other data and engineering leaders about how they solved this problem. Everyone agreed it was an issue, but no one had the solution. And as more companies adopted AI strategies, the importance of an observability platform that natively monitored data before it was even ingested became even more important. So that’s where the idea of Matia was born: A unified dataops platform bridging together ingestion, reverse ETL, observability and catalog. 🧠 With pre-built connectors, data and AI teams can plug in seamlessly to the tools they use, and integrate with Databricks, Snowflake and even monitor transformations natively in dbt Labs. While it’s only the beginning of our journey, we’re grateful to have amazing customers like Ramp, Obligo, & HoneyBook onboard and already seeing incredible results, and backed by investors including Leaders Fund, Secret Chord Ventures, Cerca Partners & Caffeinated Capital. The best is yet to come. Follow our journey. Link in comments for more.

Databricks IPO chatter? Futuriom Take: DBRX is another win for Databricks because it addresses a crucial concern for enterprises looking to implement AI – namely, how to create applications using their own data. Databricks is well positioned to offer this solution, which adds to the company’s strengths and prompts questions about potential IPO, especially given a handful of recent successful debuts.

Databricks pioneered the data lakehouse architecture back in 2020. Now, we’re taking it to the next level! 🚀 Very excited to share that we’ve agreed to acquire data management company Tabular Inc . We look forward to welcoming you to the Databricks team! With this announcement, we’re bringing together the creators of the two leading open source lakehouse formats - Apache Iceberg™ and Linux Foundation Delta Lake. But what does it mean for Databricks? As part of our mission to democratise data and AI, we’re working towards the open lakehouse, and acquiring Tabular is a crucial step. Now, we can lead the way with data compatibility, so that teams are not limited by the lakehouse format their data is in 🙌 I can’t wait to see how this acquisition will impact our customers across EMEA! If you want to learn more, take a look at our news in the The Wall Street Journal here: https://lnkd.in/de5Q2GRg #Databricks #Tabular #Lakehouse #DataManagement #Data #OpenLakehouse

𝗚𝗿𝗲𝗮𝘁 𝗮𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻! 𝗚𝗿𝗲𝗮𝘁 𝗻𝗲𝘄𝘀 𝗳𝗼𝗿 𝗼𝘂𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀! We continue to work to ensure companies are in control of their data and free from the lock-in created by proprietary vendor-owned formats. #Databricks #Tabular #Lakehouse #DataManagement #Data #OpenLakehouse

I am thrilled to announce that RTP Global is leading Conduktor's $30 million Series B, alongside Accel, M12, Microsoft's Venture Fund, and Ansa Capital! As Kafka adoption skyrockets and the technology matures, it's now become table stakes for all enterprises to build products using real-time data. But let's face it—managing Kafka can be a huge pain. Enter Conduktor. They're tackling the management challenges head-on, enabling the democratisation of Kafka within organisations. This means more teams can easily build real-time products, driving innovation and new revenue opportunities across the board. We immediately knew the team were building something special when the engineering team loved the product, just as much as the admins + management trying to wrangle their infra. Hearing how Conduktor helped customers discover entirely new product lines and solve huge inefficiencies made the investment a no-brainer. A big shout-out to Nicolas Orban, Stéphane Derosiaux, and the entire Conduktor team as they continue to scale. We're thrilled to be part of this journey alongside Andrei Brasoveanu, James Wu and Allan Jean-Baptiste (as well as huge thanks to Tom Sheridan and Finn Murphy for all their help along the way). Link to TechCrunch article here https://lnkd.in/dg4dFhXQ Check out their https://lnkd.in/dg2e4nyz to join the rocket ship.

#Topics Vast Data lands $118M to grow its data storage platform for AI workloads [ad_1] Vast Data, to make an obvious pun, is raising vast sums of cash. The New York-based startup, which provides a scale-out, unstructured data storage solution designed to eliminate tiered storage (i.e. setups that move data between high- and low-cost storage hardware), today announced that it secured $118 million in a Series E round led by Fidelity Ventures with participation from New Enterprise Associates, BOND Capital, Drive Capital, Nvidia, Dell, Goldman Sachs, Tiger Global, Commonfund, Norwest, 83North, Greenfield and Next47. The round values Vast at $9.1 billion post-money, and brings the startup’s total raised to $381 million. “The explosion of interest in AI and the need for modern infrastructure that can support these workloads in the last year has been a boon for Vast’s business and positions the company for continued growth and adoption with the enterprise,” Vast co-founder and CEO Renen Hallak told TechCrunch in an email interview. “Given the future-proof nature of Vast’s offering, data-driven organizations see Vast as a valuable investment in the future of their business.” Hallak co-founded Vast in 2016 with Jeff Denworth, Shachar Fienblit (who previously held leaders...