Launchbay Capital’s Post

Databricks has secured a $62 billion valuation after raising $10 billion in a major venture capital funding round. The funding round was led by Joshua Kushner's Thrive Capital and included participation from Andreessen Horowitz, DST Global, GIC, Insight Partners, WCM Investment Management and others. Existing investor Ontario Teachers' Pension Plan Plan and new investors like ICONIQ Capital Growth and MGX also joined in. Ali Ghodsi, co-founder and CEO of Databricks, said these are still the early days of AI, and the round was "substantially oversubscribed." The funds will be used for new AI products, acquisitions, and allowing some employees to cash out their stock. Read more: https://lnkd.in/gdXr33GG #ai #artificialintelligence

VC dollars chase themes and secondary market investors follow suit. 2 key themes drove ~60% of VC secondary market trading volume YTD: 1️⃣ Company Fundraising Events – VC funding sparks secondary activity, with investors buying and selling around primary raises or tender offers. Notable examples (sources in comment below): 🚀 SpaceX: Ongoing company tender → hundreds of $Ms worth of secondary trades follow. 💸 Stripe: Announced tender in August → $Ms worth of secondary trades follow. 💰 Revolut: Announced a tender offer in August → $Ms worth of secondary trades follow. 2️⃣ Data & AI – As VCs pour capital into AI and AI infrastructure, secondary investors follow suit, with hundreds of $Ms worth of secondary trades in names like: - Anthropic - OpenAI - xAI - Lambda - Databricks The data paints a pretty clear picture: If you are a Unicorn shareholder and your company was fortunate to raise a round this year, and/or sits in the AI space, congrats! Liquidity may be available to you. If not, and you need liquidity, plan on a drawn-out price discovery process. Caplight is happy to help arm you with the right data and match you with the right broker to solve your needs. For more on the themes driving pre-IPO secondary markets, find a link to our Q3 2024 Pre-IPO Market Update in the first comment. #secondaries #VC #AI #capitalmarkets #privatemarkets #preIPO #IPO #data #transparency

💼 Exciting times in the world of tech finance! Databricks recently completed an astounding $10 billion fundraising round, setting the stage for investors seeking a piece of this high-demand generational company. 🚀 Here’s a quick look at what transpired: George Mathew, managing director at Insight Partners, shared that the interest was so aggressive that the deal’s initial planned volume quickly escalated. Just weeks earlier, it was estimated around $8 billion, jumping to $10 billion with a whopping $62 billion valuation. That’s a substantial milestone, especially when compared to OpenAI’s previous record! 📈 What’s fascinating is that Databricks had a bit of an identity crisis when it started. The co-founder and CEO, Ali Ghodsi, even received some questionable advice—sadly, from Mathew himself—encouraging him against venturing into the data warehousing market. However, by staying true to his vision and launching Databricks SQL, the company quickly surged as a major competitor to Snowflake in this space. Do you think Ghodsi's decision to ignore that advice highlights the importance of trusting one’s instincts in business? 🤔 💡 Here are some mind-blowing stats: - **Databricks has achieved a 150% increase** in its revenue run rate this year. - It aims to achieve a **$3 billion revenue run rate** by the end of the fiscal year. This level of growth reflects the increasing demand for enterprise solutions, particularly as companies are scrambling to harness high-quality data for deploying powerful LLMs (Large Language Models). It's a period of transformation for Databricks and could signal greater shifts in technology and venture capital in 2024. What other companies do you see on the verge of a major breakthrough this year? 🔍 Let’s keep the discussion going, and share your thoughts below! #Databricks #VentureCapital #Funding #AI #TechInnovation #Startups #BusinessGrowth #Investments

Databricks is raising $10B Series J investment at $62B Valuation 🚀 The company plans to invest in #AI products, acquisitions, and international expansion, capitalizing on the growing demand for #AI solutions. https://lnkd.in/d_cMU7st

Preparing for an IPO isn’t just about going public, it’s about setting the stage for long-term growth and innovation. Databricks approach is a masterclass in strategic planning: • Focusing on scalable growth to hit a $3B revenue run rate by 2025. • Using acquisitions like MosaicML to enhance AI capabilities. • Aligning employee incentives with company goals to foster ownership. Will you invest in this IPO? Read the full story: https://lnkd.in/gkxk36aa #techfounders #techstartups #nvidia #ai #databricks #ipo

Databricks CEO Ali Ghodsi shared insights with CNBC's Deirdre Bosa on the company’s record-breaking $10B funding round and its vision for the future of AI. Ghodsi: "This investment underscores the enthusiasm for AI and Databricks’ ability to lower costs while driving cutting-edge applications." With plans to invest in top AI talent, strategic acquisitions, and innovation in inference-time compute, Databricks is shaping the future of business AI while preparing for an eventual IPO. https://lnkd.in/eBScW97V #AI #Innovation #Funding #Databricks #AIeconomy

Last chance to register! #Founders, join this #VCs panel to learn best practices for raising capital in a fiercly competitive market and how to implement a #tech stack with burn rate, scalability, and customer experience in mind. https://okt.to/2z59m8

Databricks is set to raise $9.5 billion in funding, reaching a valuation of $60 billion. The funding round is expected to be one of the largest in venture capital history, with Thrive Capital leading the round and participation from existing investors like Andreessen Horowitz, Insight Partners, and GIC. Databricks was founded in 2013 by researchers from UC Berkeley and has become a key player in AI-driven analytics. Read more: https://lnkd.in/eMC_hjFr #ai #artificialintelligence #aifunding

Congrats to Databricks on closing the largest VC round of all time: $10 billion! I enjoyed reading this TechCrunch article on it featuring Insight Partners' George Mathew, who played a leading role in the deal. In particular, it was inspiring to read that George and Databricks' CEO Ali Ghodsi have a long-standing friendship, underscoring the value in building meaningful relationships and boatloads of mutual trust. This is, unsurprisingly, the path to making record-breaking business deals happen. Databricks began by providing a commercial entity to support the highly influential "big data" tool Spark. The firm has enjoyed spectacular growth recently thanks to its Databricks SQL database that facilitates many enterprises' generative-A.I. capabilities. I'm looking forward to seeing how this big capital infusion enables Databricks to reshape the data/A.I. landscape yet again. #venturecapital #venturedeals #startup #startups #databricks #ai

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸 𝗶𝗻 𝗩𝗖 🔥 💾 Databricks, the San Francisco-based data management powerhouse, is raising a whopping $9.5 billion at a $60 billion valuation, as reported by Reuters. Thrive Capital is leading the round, with participation from Andreessen Horowitz, Insight Partners, and GIC. 💡 Liquid AI, a Boston startup pioneering "Liquid Foundation Models" for more efficient and adaptable AI applications, secured a $250 million Series A round. The funding was led by AMD, with OSS Capital, Duke Capital Partners, and PagsGroup joining the effort. 💳 One, a Walmart spinout from Sacramento, CA, specializing in installment loans, debit cards, and payment services, raised $300 million at a $2.5 billion valuation. The round was co-led by Walmart and Ribbit Capital. 🔒 Verkada, based in San Mateo, CA, which integrates cloud-based video surveillance, access control, and workplace management systems into a unified platform, is raising over $200 million at a $4.5 billion valuation. General Catalyst is reportedly leading the round, according to Bloomberg. Stay tuned for more updates on the latest in venture capital with VC Stack! ✨