Big data analytics software developer Databricks Monday confirmed raising US$1 billion in a new Series G round of funding that boosts the company’s post-money valuation to US$28 billion.
The new financing presages what many observers expect will be a blockbuster IPO from the San Francisco-based company sometime this year.
The latest funding round comes on top of the US$897 million the San Francisco-based company has already raised including the US$400 million Series F round of financing the company announced in October 2019 and the US$250 million Series E funding in announced in February of that same year.
Last week there were reports, which Databricks declined to confirm, that said the company might have snagged as much as US$2 billion in additional funding, pushing its pre-money valuation to US$28 billion to US$30 billion.