Tuesday, February 2, 2021
Maynard Represents Franklin Templeton as Lead Investor in $1 Billion Series G Financing of Databricks
Maynard represented global investment firm Franklin Templeton as lead investor in connection with a $1 billion Series G financing of Databricks, a leader in unified data analytics and provider of data science and AI/machine learning platforms based on San Francisco, CA. The transaction closed on February 1, 2021 and put Databricks at a $28 billion post-money valuation.
Joining Franklin Templeton in the financing round were other new investors Fidelity Management & Research LLC, Canada Pension Plan Investment Board and Whale Rock, and new strategic investors Amazon Web Services, CapitalG and Salesforce Ventures. Existing investors participating in the round include Microsoft, Andreessen Horowitz, NEA, Alkeon Capital Management, funds and accounts managed by BlackRock, Coatue Management, funds and accounts advised by T. Rowe Price Associates, Inc. and Tiger Global Management.
The funding will accelerate Databricks’ innovation and allow the company to scale and support the rapid global adoption of its unified data platform. More information can be obtained from Databricks’ announcement.
The Maynard transaction team was led by stockholder James Childs and included stockholders Jonathan Kipp and Chitra Kalyanaraman and associate Jack Cantrell. Fenwick represented Databricks in connection with the transaction.