Databricks is a well-known data analytics company that grew out of the AMPLab big data project at the University of California, Berkeley. It’s a venture-backed company, with just shy of $900 million raised in total and a valuation of $6.2 billion from its last funding round in October 2019.

Now, it seems that Databricks is about to more than quadruple its private valuation. The company is in talks with investors to raise a new funding round at a valuation of $27 billion, reports tech journalist Eric Newcomer.

It’s said that buy-side public investors seem to be the ones in talks to invest in Databricks at a $27 billion valuation, not surprising given that Databricks is likely on its way to a public listing. As it looks, the company may raise the last round before it goes public, wherein investors would want to buy in at the last moment at a high valuation.

With a $27 billion valuation, Databricks would make its mark as one of the highest-valued private software companies globally. Then with an imminent debut on the public markets, we may just be seeing another Snowflake situation here, where the company gets a very high valuation before its public debut and then soars high on the public markets.

Databricks is a high-growth startup, having been founded just seven years ago. It’s backed by a host of investors that include notable names like Microsoft, BlackRock, Tiger Global, Andreessen Horowitz, Coatue, and the Dragoneer Investment Group.

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