16 days ago • Posted by William Ramstein
Databricks valuation jumps to $38B with ARR past $600M, but more growth is anticipated in the price tag.
Databricks, a data management company, funding reached $3.5B with a notable raise of $1B pressing up its $38B valuation. Databricks has reached the $600M ARR milestone, an ARR representing a 75% growth figure. One of the reasons the operations is working so well is that it operates on a consumption model. Databrick's competitor Snowflake went public last year with a market cap of $83B. Per the math however, Databricks' new valuation takes into account a lot of growth anticipation, which it will need to live up to in the coming months to justify its IPO price tag. Source. TechCrunch