Databricks

San Francisco-based Databricks is launching a new research and development hub in Vancouver, its first in Canada. Led by Ken Wong—co-founder of Datajoy, acquired in 2022—the team will focus on AI-driven business intelligence, Unity Catalog’s semantic modeling, Databricks Apps, and petabyte-scale analytics.

Vancouver joins a global R&D roster that includes Silicon Valley, Berlin, and Bengaluru. Databricks already supports Canadian clients like Air Canada and TD Bank. The move deepens Canada’s innovation footprint as Databricks, now valued at $62 billion, eyes $3.7 billion in annualized revenue and a future IPO.

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Databricks announced a $10 billion Series J funding round, valuing the data and AI company at $62 billion. Led by Thrive Capital and co-led by Andreessen Horowitz, DST Global, and GIC, the oversubscribed round will fund AI products, acquisitions, and international expansion.

Among Databricks cofounders are University of Waterloo and University of Toronto graduates, Matei Zaharia and Reynold Xin. CEO Ali Ghodsi highlighted the platform’s role in democratizing data intelligence across industries. Databricks reported over 60% year-over-year growth, expects to achieve $3 billion revenue run-rate, and hit positive free cash flow this quarter.

The funding reflects booming AI demand and positions Databricks to lead transformative innovation in AI infrastructure.

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