San Francisco-headquartered Databricks, the Data and AI company, has closed of a $1 billion funding round. The Series G funding, led by new investor Franklin Templeton, values Databricks at $28 billion.
“We see this investment and our continued rapid growth as further validation of our vision for a simple, open and unified data platform that can support all data-driven use cases, from BI to AI,” said Ali Ghodsi, CEO and Co-Founder of Databricks.
Databricks has seven co-founders including two with roots to Toronto, Chief Architect Reynold Xin, a University of Toronto alum, and Chief Technologist Matei Zaharia, who grew up in Toronto and went to the University of Waterloo.
The huge funding news follows an announcement one year ago Databricks was establishing its third engineering hub in Toronto.
At the time Xin told IT World Canada that they chose Toronto because of its high concentration of software engineers which would allow them to build the initial teams with just local talent.
Xin also cited Canada’s friendly immigration policies which would allow them to attract engineers from all over the world.