Romanian-founded US company Databricks secures USD 5 billion funding
Databricks, a tech giant with two Romanians among its founders, secured USD 5 billion in funding from creditors such as Blackstone, Apollo Global Management Inc., and Blue Owl Capital Inc., marking the largest amount raised in the…
Radu Dumitrescu · Journalist
· Updated · 2 min read
Databricks, a tech giant with two Romanians among its founders, secured USD 5 billion in funding from creditors such as Blackstone, Apollo Global Management Inc., and Blue Owl Capital Inc., marking the largest amount raised in the company's history.
A group of banks, including JPMorgan, Barclays Plc, Citigroup Inc., Goldman Sachs Group Inc., Morgan Stanley, and BNP Paribas SA, provided a USD 2.25 billion term loan, as well as a USD 500 million tranche that Databricks can access later. The debt is structured around the company’s annual recurring revenue, typically derived from long-term contracts, rather than earnings.
