US data business Databricks has raised $1.6mn in a round led by Morgan Stanley.
In Brief:
This was the business’ eighth funding round.
Databricks works to process data in order to be moved to a warehouse and analysed on any cloud platform.
It offers the solution across financial services, working with the likes of HSBC and Credit Suisse.
What does this mean?
This brings the total raised by Databricks to $3.6bn and the business has around 5000 customers. It’s also welcomed a lot of new investors and there are reports of an IPO.
