News
Accidental Billionaires: How Seven College Professors Who Didn’t Want To Make A Cent Are Now Worth Billions
Databricks Is Launching An Accelerator To Fund Early AI Startups
Databricks, the $100 billion-valued AI data storage and analytics company, wants to help nurture fledgling companies. On Thursday, the company said it’s launching an accelerator program for seed and pre-seed stage AI startups that use Databricks’ tools and platform.
Portfolio companies will also get access to Databricks’ network of venture capitalist relationships with firms including Andreessen Horowitz, Battery Ventures, General Catalyst, NEA and Menlo Ventures. Those introductions will come in handy when portfolio companies want to raise series A funding and beyond, Ghodsi said.
The announcement comes a week after Databricks announced a $1 billion series K fundraising round, valuing the company at $100 billion. Databricks’ vast fundraising history — it’s raised almost $20 billion total since it was founded in 2013 — will be an asset to its accelerator companies as they try to build relationships with new backers, Ghodsi argued. “Pretty much any investor that’s out there is already on our cap table.”
