Squaring Databricks’ 2021 valuation as it crosses a $1B annual run rate

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.

The Exchange explores startups, markets and money.

Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday.

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.

This article was originally published on TechCrunch.com. Read More on their website.

Leave a Comment