SBVA said on the 2nd that it had joined an investment round in Databricks, a U.S. developer of big data management platforms.
Databricks raised a total of $5 billion in the round, which was led by U.S. venture capital firm Coatue. Blackstone, MGX and Sixth Street Growth also joined the list of investors. The funding valued Databricks at $190 billion.
Founded in 2013, Databricks develops an integrated platform that allows companies to manage and analyze data in one place and apply the results to their operations. More than 20,000 organizations worldwide currently use Databricks. Its annualized revenue has surpassed $7 billion.
"The importance of data infrastructure is growing," said Lee Joon-pyo, chief executive of SBVA. "We will actively support Databricks so that it can grow into a core technology company leading corporate adoption of AI in the Korean and Asian markets."
