Squaring Databricks’ 2021 valuation as it crosses a $1B annual run rate
With $1 billion or more worth of annualized revenue, what can we learn about Databricks’ growth rate, and how well does its valuation slot into current market pricing? …
Databricks, an enterprise software company focused on data and analytics, announced this morning that it has surpassed a $1 billion annual revenue run rate. The Wall Street Journal first reported news of the financial result.
The milestone comes after the company raised a mammoth $1.6 billion round last August at a $38 billion valuation. At the time, Databricks announced that it had cleared the $600 million annual recurring revenue (ARR) mark.
By the end of 2021, Databricks said that it crossed $800 million in ARR. As a result of the company’s well-known recent private-market valuation and its regular disclosures of revenue numbers, we’ve been able to track its growth and resulting revenue multiples as the company grows and the market changes.
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The timing of the new number is somewhat vague. TechCrunch confirmed with Databricks spokesperson Keyana Corliss that it surpassed the 10-figure revenue run rate milestone in recent months, but was not able to nail down a more precise timeline.