"Databricks sees revenue increase by more than 50 percent thanks to explosive demand for AI products. In the second quarter, Databricks achieved a revenue run rate of $4 billion (€3.4 billion). Databricks is aiming for a net revenue retention rate of over 140 percent. More than 650 customers spend over $1 million annually on its solutions. The company has generated positive free cash flow over the past 12 months."
"The company raised a billion dollars in a recent funding round. The round was co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management. Databricks wants to use the money to accelerate its AI strategy. This means expanding its products, launching a new category of operational databases, and financing future AI acquisitions. Databricks' valuation rose sharply this year due to continued investor interest. CEO Ali Ghodsi says investors contacted him daily."
Databricks reported revenue growth exceeding 50 percent and reached a second-quarter revenue run rate of $4 billion (€3.4 billion). AI products contribute $1 billion of revenue and the company produced positive free cash flow over the past 12 months. The firm targets net revenue retention above 140 percent, with more than 650 customers spending over $1 million annually and about 15,000 total customers including Shell and Rivian. A $1 billion funding round co-led by major investors will accelerate AI strategy, expand products, launch operational databases, and finance acquisitions. Valuation rose sharply amid intense investor interest.
Read at Techzine Global
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