Databricks hits unicorn valuation

Data analytics software provider Databricks has raised $250 million at a $2.75 billion valuation in a Series E led by Andreessen Horowitz. Coatue Management, Microsoft and NEA also participated in the round, which brings the company's total VC backing to nearly $500 million.

Databricks also announced that its annual recurring revenue topped $100 million last year. Founded in 2013, the San Francisco-based company previously raised a $140 million Series D on a $940 million post-money valuation in 2017. Founders Ali Ghodsi, Ion Stoica and Matei Zaharia are also known for starting the Apache Spark cluster computing platform, which Databricks' flagship Unified Analytics platform builds upon.

Microsoft's involvement in this round comes after a 2017 partnership to develop Microsoft's Azure Databricks, which processes large amounts of data for corporate customers. The new round represents Microsoft's first direct investment in Databricks.

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