SBVA joins Databricks' $5 billion round at $190 billion valuation
Image: Primary SBVA announced its participation in a $5 billion strategic funding round for Databricks, valuing the enterprise data and AI company at $190 billion. Coatue led the round, with Blackstone, MGX and Sixth Street Growth also among the investors.
Databricks provides a platform for enterprises to manage and analyze data and build AI models using their own data. More than 20,000 institutions use it worldwide. SBVA and Databricks executives said the investment would support expansion in South Korea and other Asian markets; that expansion is an intended outcome.
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