Databricks, the red-hot data analytics and data lake platform developer, is putting together a new round of funding that could boost the company’s value to US$38 billion, according to a published report.
The Bloomberg report, which cited “three people familiar with the terms” of the new funding deal, said the financing round will be led by Morgan Stanley and could raise US$1.5 billion. The report said such a funding round would put Databricks’ post-money valuation at US$38 billion.
Bloomberg, citing two of its sources, said the funding deal hasn’t been finalized yet and could grow even larger.
A Databricks spokesperson reached by CRN declined to comment on the report.
Databricks, founded in 2013 and based in San Francisco, is one of the IT industry’s hottest startups with many observers expecting the big data company to go public this year in what could be one of 2021’s biggest IPOs.
In February Databricks raised US$1 billion in a Series G round of funding that brought its total financing to US$1.9 billion and its post-money valuation to US$28 billion.
In June “data-in-motion” technology developer Confluent went public at US$44 per share, putting its market cap around US$10 billion. Last year data cloud company Snowflake went public in a blockbuster IPO that initially put the company’s market cap around US$73 billion – higher than such IT giants as VMware and Dell Technologies.