The latest deal values Databricks at $6.2 billion, more than double the $2.75 billion price tag investors gave the company in February. The funding round included existing backers Microsoft Corp. Databricks said in a statement that with Delta, "enterprise organisations no longer need complex, brittle extract, transform and load processes that run across a variety of systems and create.

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Databricks market cap

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Increased market share: With the support of Databricks, RB has increased its ability to support its customers by over 10x. Before Databricks, their maximum capacity was around 45,000 stores.With Databricks, they are quickly scaling to nearly 500,000 stores. 10x Increased capacity to support business volume.Privately held Databricks says it has raised $3.5 billion to date.

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Databricks was founded in 2013 and has raised almost $2 billion. The latest round was in February for $1 billion at a $28 billion valuation, an astonishing number for a private company. Snowflake, a primary competitor, went public last September. As of today, it has a market cap of over $66 billion.

Data from Statista suggests that the global enterprise software market could reach as high as $517 billion, and IT spending could be as high as $4.07 trillion in.

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TodayHeadline Databricks raised $400 million and hired the CFO who led Splunk IPO –. Its market cap of $99.5 billion also values the company at 50 times next year's sales, making it one of the priciest tech stocks on the market today. On the bright side, Snowflake expects its non.

Databricks ended 2020 with $425M in annual recurring revenue, up 75% on the year. The tech giants jumping in (Microsoft for the second time) all operate cloud platforms that integrate with Databricks.

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