UC Investments and the House Fund have invested in the data analytics software producer, which has been valued at $38bn in its series H round.

Databricks, a US-based data analytics software developer based on research at University of California (UC), Berkeley, has raised $1.6bn in a series H round backed by UC Investments, which manages UC’s retirement, endowment and cash assets. Investment bank Morgan Stanley’s Counterpoint Global unit led the round, which also included the House Fund, a vehicle focused on the UC Berkeley ecosystem. The round valued the business a $38bn post-money and also included Baillie Gifford, ClearBridge Investments, Andreessen Horowitz, Canada Pension Plan Investment Board, Coatue Management, Fidelity, Franklin Templeton, GIC, Greenoaks, Octahedron Capital, Tiger Global and Whale Rock Capital Management, as well as funds and accounts managed by BlackRock and funds and accounts managed by T Rowe Price Associates. Alta Park Capital, Discovery Capital, Dragoneer, Flucas Ventures, Gaingels, Geodesic Capital, Green Bay Ventures, New Enterprise Associates (NEA) and a suite of BNY Mellon funds filled out the list of round participants. Founded in 2013, Databricks runs a cloud-based data management platform for aggregating and processing unstructured and structured data. It will use the proceeds of the series H round to invest in technology innovation and enter new markets. Databricks has raised about $3.5bn of funding to date. CapitalG and Salesforce Ventures, investment units for internet and technology conglomerate Alphabet and enterprise software producer Salesforce respectively, joined e-commerce group Amazon’s Web Services subsidiary and software provider Microsoft in a $1bn series G round for Databricks in February 2021. Franklin Templeton led the round investing alongside Fidelity, Canada Pension Plan Investment Board, Whale Rock, Andreessen Horowitz, Alkeon Capital Management Coatue, Tiger Global, GIC, Discovery Capital, Dragoneer Investment Group, Founders Circle Capital, Geodesic, Green Bay Ventures, Greenoaks Capital, NEA and Octahedron Capital. Funds and accounts advised by T Rowe Price and BlackRock also contributed to the series G round. The company raised $400m in its series F round in October 2019, which was led by Andreessen Horowitz and included Microsoft, Alkeon Capital, Coatue, Dragoneer, Geodesic, Green Bay Ventures, NEA, Tiger Global and funds and accounts managed by BlackRock and T Rowe Price. Microsoft also contributed to a $250m series E round in February of that year led by Andreessen Horowitz and featuring NEA and Coatue. Databricks’ early investors include Battery Ventures. – A version of this article first appeared on our sister site, Global Corporate Venturing.

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