Artificial Intelligence (AI) rocks and is the HOT sector for investment right now. Led by heavyweight venture firm Andreessen Horowitz and others, AI 'startup' Databricks just got another $140M bringing their raise to $247M. Nice numbers. Good luck and congratulations.........but you probably knew I'd say that didn't you? I mean we are all AI, right?
(Bill Taylor/CEO)
"Funding for the sector has surged during the past four year
Tech giants like Facebook, Google continue making acquisitions
Funding for artificial intelligence startups has surged more than eightfold since 2012, and entrepreneurs are rushing to capitalize on the cash that’s still sitting on the sidelines.
Money is gravitating toward the area as tech giants such as Alphabet Inc. and Facebook Inc. acquire companies and push advancements. Venture capital firms including Andreessen Horowitz, New Enterprise Associates Inc., and Battery Ventures LP announced Tuesday they have injected $140 million into artificial intelligence startup Databricks Inc., raising the company’s funding to $247 million.While the sector saw just $559 million in funding in 2012, it surged to almost $5 billion in 2016, according to data compiled by research firm CB Insights. The number of deals has also seen a substantial increase, rising from 150 to 698 in that same time frame. According to Databricks, the firm was able to raise at an increased valuation without special provisions such as liquidation preferences, despite having received funding six months ago..."
Full Story at Bloomberg