Databricks is raising at least $5 billion in cash — though it could raise as much as $8 billion — pegging its new valuation at $55 billion, sources say.
The data analytics and AI company is in the middle of a mega funding round, several sources told CNBC.
The software company is already one of Silicon Valley's most valuable private startups, and has been viewed as a potential IPO candidate. But one source tells CNBC this funding round pushes its public debut prospects further down the road. San Francisco-based Databricks is raising at least another $5 billion in its latest funding round — though it could raise up to $8 billion given the round is ongoing — according to several sources who asked not to be named because the discussions were private. The latest raise would value the company at $55 billion and could top the largest round of the year by OpenAI.The latest funding is designed to help Databricks employees sell shares, a source said.
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