GIC and CPP Participate in Series H in Databricks
Posted on 09/01/2021
Data company Databricks announced a US$ 1.6 billion round of funding to accelerate innovation and adoption of the data lakehouse. The Series H funding, led by Counterpoint Global (Morgan Stanley), puts Databricks at a US$ 38 billion post-money valuation. Counterpoint Global is joined by other new investors including Baillie Gifford, ClearBridge Investments and UC Investments (Office of the Chief Investment Officer of the Regents of the University of California). Existing investors participating in the round include Andreessen Horowitz, funds and accounts managed by BlackRock, Canada Pension Plan Investment Board (CPP Investments), Coatue Management, Fidelity Management & Research, Franklin Templeton, GIC Private Limited, Greenoaks, Octahedron Capital, funds and accounts managed by T. Rowe Price Associates, Inc., Tiger Global Management, and Whale Rock Capital Management.
Other existing and new Investors that participated in this funding round include: Alta Park Capital, a suite of BNY Mellon funds, Discovery Capital, Dragoneer Investment Group, Flucas Ventures, Gaingels, Geodesic, Green Bay Ventures, the House Fund, Insight Partners, and New Enterprise Associates.
As further commitment to accelerate lakehouse adoption globally, Databricks also announced the appointment of former Salesforce executive, Andy Kofoid, as President of Global Field Operations.
Some of Databricks’ clients include AT&T, Comcast, Condé Nast, and H&M.
Law firm Fenwick represented Databricks in its $1.6 billion Series H financing.