Databricks just closed 2024's largest VC round: $10B Series J at $62B valuation.

Key metrics:
• $3B+ revenue run rate (60% YoY growth)
• 500+ customers paying $1M+ annually
• First-time positive free cash flow expected Q4
• 10,000+ organizations using platform

How Ali Ghodsi built this:
• Started with Apache Spark at UC Berkeley (2008) → Created open-source foundation
• Founded Databricks (2013) → Commercialized Spark vs dominant Hadoop
• Listened to customers → Built Delta Lake and MLflow for real needs
• Created Lakehouse architecture → Unified data lakes and warehouses
• Went cloud-first → Enabled scalability despite skepticism
• Expanded globally → Opened hubs worldwide

Funding led by Thrive Capital will fuel AI products, acquisitions, and international expansion.

Takeaway: Build on open-source, listen obsessively to customers, create unified platforms.

https://www.databricks.com/company/newsroom/press-releases/databricks-raising-10b-series-j-investment-62b-valuation

Brewed by Startup Beaker.