Databricks IPO

Databricks is a data and AI company founded in 2013 by the creators of Apache Spark at the University of California, Berkeley. The company builds the Data Intelligence Platform, a unified solution for data engineering, analytics, and machine learning that is used by over 10,000 organizations worldwide.

At its core is the Databricks Lakehouse Platform, which combines the flexibility and low cost of data lakes with the reliability and performance of data warehouses. The platform enables organizations to store, process, and analyze massive datasets and build and deploy machine learning models at scale. Databricks has pioneered the concept of the data lakehouse, which has become an industry standard approach to modern data architecture.

In 2023, Databricks acquired MosaicML, an AI training and inference platform, for $1.3 billion, strengthening its position in generative AI. The company also open-sourced DBRX, a large language model competitive with GPT-3.5. Databricks reported annual recurring revenue exceeding $1.6 billion in 2024, growing at over 50% year-over-year.