Amazon, Google, and Salesforce Are Investing in This Big Data Startup
Databricks allows companies to increase efficiency in big data processing and prepares it for analysis. On Monday, the startup announced that it had raised around $1 billion in cash with a valuation of $28 billion. Amazon Web Services, Alphabet's CapitalG venture arm and Salesforce Ventures all participated in the funding round. Microsoft has been invested in the company for some time now but plans to participate in future funding rounds as well.
Databricks is obviously doing something right if the top three US cloud providers are investing billions in it. According to sources familiar with the matter, the cloud providers see Databricks as an opportunity similar to Snowflake, another big data firm.
Databricks got traction in the industry when it started to help companies implement a new version of Apache Spark, an alternative to the traditional software for storing large amounts of data. The software Databricks implements allows companies to eliminate concerns with configurations and updates. Lastly, the start-up has started to instruct companies on the utilization of artificial intelligence capabilities in data processing.
“We’re 100 percent cloud-native,” Databricks CEO Ali Ghodsi said in 2019.