Databricks secures $1.8 billion in new financing

Investing.com -- Software maker Databricks Inc. has secured $1.8 billion in new financing from broadly syndicated loan investors and private credit lenders, according to a Bloomberg report Friday.

The company reportedly increased an existing delayed-draw term loan to $1.15 billion from $500 million. Databricks also expanded its revolving credit facility to $3.65 billion from $2.5 billion.

The loan, which will be available for two years, is priced at 4.5 percentage points above the Secured Overnight Financing Rate, the report said.

Databricks ranks among the world's most valuable private companies and competes with Oracle Corp. and Snowflake Inc. in the data software market. In December, the company was raising more than $4 billion in a funding round that valued the firm at $134 billion.

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