Databricks Secures 2024’s Largest VC Round with $8.6B Raise, Valued at $62B

Databricks has claimed the title for the year’s largest venture capital round, raising $8.6 billion in its Series J funding and achieving a valuation of $62 billion. With such a lofty valuation, expectations are high for a blockbuster IPO within the next couple of years.
CEO Ali Ghodsi, speaking at the Axios AI Summit, confirmed the company’s intention to delay its IPO until market conditions are more favorable:
“It’s dumb to IPO this year, so we’re definitely going to wait... The earliest theoretical possibility of an IPO would be next year.”

This funding round solidifies Databricks as a top player in the private market:

• A top-10 company by listed volume on the platform in 2024.
• Now ranks 5th among private companies active in the secondary market.
  Ghodsi noted the round could have been nearly double its size, highlighting the strong investor appetite for the AI-driven data analytics leader.

Perplexity AI: A 2024 Valuation Leader with 1,479% YoY Growth

Perplexity AI has raised $500 million, tripling its valuation to $9 billion in just six months. This meteoric rise makes Perplexity the 2024 leader in implied valuation growth, with an astonishing 1,479% YoY increase.

Chime Financial Prepares for 2025 IPO

Chime Financial has filed confidentially for its IPO, targeting a public debut in 2025. The company’s implied valuation stands at $8.7 billion, reflecting a 26% YoY growth.

SandboxAQ Joins Top-50 Private Companies by Implied Valuation

AI and quantum technology company SandboxAQ has raised over $300 million, reaching a post-money valuation of $5.6 billion. This latest round elevates SandboxAQ into the top-50 private companies active on the secondary market by implied valuation.