At the core of many modern enterprise apps and services is a fundamental need for data analytics. It's a need that Databricks and the open source Apache Spark project that it leads, helps to fill.
It's also a need that a lot of organizations are willing to pay for. On Feb. 5, Databricks announced that it now generates over $100 million in annual revenue. Databricks still wants to grow more and to that end the company raised a $250 million Series E funding round led by Andreessen Horowitz. Coatue Management, Microsoft, and New Enterprise Associates (NEA). Total funding to date for Databricks now stands at $498.5 million and the company has a publicly stated valuation of $2.75 billion.