We mined Databricks’ acquisitions, investments, and partnerships to discern the company's strategic priorities.
Databricks is riding the AI wave.
The data management company has seen a surge in demand from enterprises clambering to take advantage of generative AI. The company’s revenue grew to $1.6B for the fiscal year ending in January 2024 — up over 50% YoY — and it has looked to sustain its growth with product expansion and acquisitions.
One of the company’s biggest recent moves was its acquisition of MosaicML in June 2023 for a whopping $1.3B (at a 65x revenue multiple). The MosaicML team ultimately helped build Databricks’ open-source large language model (LLM), DBRX, which it released in March 2024.
The tech firm is also using its cash-rich position to invest in a growing network of AI startups. Its VC arm, Databricks Ventures, is on pace to back more deals this year than it has either of the past 2 years.
Using CB Insights data, we uncovered 3 strategic priorities highlighted by Databricks’ acquisitions, investments, and partnerships since Q1’23. We then categorized companies by their business relationships with Databricks across these priorities:
- Data governance & security
- Data transformation & access
- Generative AI
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