In lieu of a much-delayed IPO, the company – initially built around the Apache Spark project – received a cash injection led by funds and accounts advised by T.Rowe Associates, which is joined by other existing vendors including Andreessen Horowitz, Baillie Gifford, Nvidia, and more.
Ali Ghodsi, co-founder and CEO of Databricks, said the Series I funding "reflects Databricks' continued momentum, the rapid customer adoption of the Databricks Lakehouse" as well as the move to a unified data platform.
The Databricks Lakehouse combines the unstructured approach of data lakes with SQL-friendly data warehouses and a machine learning workbench.
"Databricks and Nvidia are building transformative AI technology, and we're excited about the business value and innovation we can bring to our customers," Ghodsi said.
The company mooted the idea of an IPO in 2021 when Ghodsi told The Register the company aimed to be "IPO-ready" that year. However, the lack of a favorable launch environment and ample VC cash runway meant the business was happy to hold off.