In fact, the company has raised $400 million in a new round of funding and hired Splunk chief financial officer Dave Conte as CFO, the company announced Tuesday.
The Series F round brings Databricks’ total funding to $897 million, according to Crunchbase.
Most of the new funding will be going toward research and development, according to Databricks CEO Ali Ghodsi.
“Our bets on massive data processing, machine learning, open source and the shift to the Cloud are all playing out in the market and resulting in enormous and rapidly growing global customer demand,” Ali said in a statement.
Databricks’ new funding round, which includes investors like Alkeon Capital Management, Coatue Management, and Green Bay Ventures, comes just as the company brings on a CFO, Dave Conte.