Databricks

Databricks offers a range of data infrastructure and data analytics solutions such as data lakes, data warehouses, data governance, and more, which are also being used for processing data across machine learning applications.

Databrick’s offers a managed service for MLFlow, an open-source platform that provides features for development, management, deployment, and monitoring of ML models. MLFlow also includes a centralized model registry to store and collaborate on ML models, along with features for version control and integration with enterprise CI/CD pipelines. MLFlow supports deployment using Apache Spark for local machines, along with cloud deployment via Microsoft Azure ML and Amazon Sagemaker. MLFlow was initially built by Databricks, but it is now open-sourced and managed by the Linux Foundation.In addition, the Lakehouse AI tools featured within the Lakehouse platform allow developers to build Gen-AI applications using foundational models to train their own custom models securely with its enterprise data.

In July 2023, Darabricks acquired MosaicML , an ML model development platform for generative AI applications, in a transaction valued at approximately USD 1.3 billion, inclusive of retention packages. The acquisition will integrate MosaicML's platform within the Databricks' Lakehouse platform, offering organizations a unified platform with tools to create and manage large language models (LLMs) and a wide range of AI use cases including generative AI using their own data.

Key customers and partnerships

As of September 2023, Databricks had a customer base exceeding 10,000 worldwide, which includes renowned companies like S&P Global, Adobe, Toyota, Nasdaq, and NASA.

In October 2022, Databricks partnered with the no-code extract, transform, and load (ETL) platform Hevo Data to provide automated data integration into the lakehouse for mutual customers. This enabled customers to deploy ETL pipelines on Hevo Data within Databricks.It also partnered with Credo AI, an AI governance platform (in January 2024), to integrate the latter’s governance platform to assist organizations in tracking and managing AI risks and complying with emerging regulations.

Funding and financials

In September 2023, the company raised more than USD 50 million in a Series I funding round at a USD 43 billion valuation. The round was led by T. Rowe Price, with participation from Andreessen Horowitz, Capital One Ventures, Ontario Teachers' Pension Plan, and NVIDIA. The funds were to be used to support the continued growth of Databricks and its unified data and AI platform.

In 2Q 2023 (ending on July 31, 2023), Databricks reported to have exceeded USD 1.5 billion in revenue run rate (a 50% YoY increase), while achieving a non-GAAP subscription gross margin of 85%.