Databricks, a data and AI company, raised $500 million in a Series I funding round in September 2023. This brought the company’s valuation to $43 billion. The funding round was led by T. Rowe Price Associates and included new investors like Capital One Ventures, Ontario Teachers’ Pension Plan, and strategic investor NVIDIA.

This funding round was significant for several reasons:

• Valuation: It significantly increased Databricks’ valuation, making it one of the most valuable private companies in the tech industry.
• Investors: NVIDIA’s inclusion as a strategic investor highlighted the growing importance of AI and GPU technology in the data space.
• Growth: The funding round came as Databricks reported strong revenue growth, indicating the increasing demand for its data and AI platform.