Fenwick Represents Databricks in $5B Funding

Fenwick represented Databricks, the data and AI company, in its $5 billion funding at a valuation of $190 billion. The round was led by Coatue with participation from Blackstone, MGX, T. Rowe Price, Sixth Street Growth, BOND, Clearlake Capital, Point72, Premji Invest, TPG, Andreessen Horowitz, Dragoneer, Fidelity Management & Research Company, GIC, Growth Equity at Goldman Sachs Alternatives, Insight Partners, J.P. Morgan Private Capital, Kinetic, Morgan Stanley Investment Management, NEA, Temasek, Thrive Capital, and WCM Investment Management. 

Databricks will use the funds to fuel its continued business momentum, including growing over 80% year over year, surpassing a $7B revenue run rate, delivering positive adjusted free cash flow over the last 12 months, and surpassing a $1.5B revenue run rate for Lakehouse, its data warehousing product. More information can be obtained from the company announcement.

The Fenwick transaction team was led by corporate partners Michael Brown, David Bell, and Ari Haber and included associates Serena Ward, Kate Pfeiffer, Jazmin Perez, and Tiana Wang.