News Summary

San Francisco-based data intelligence company Databricks is expanding its presence in Canada by opening a research and development centre in Vancouver. This move is part of Databricks’ strategy as it anticipates a valuation exceeding $100 billion USD. The new Vancouver hub, led by Ken Wong, founder of the Vancouver startup Datajoy, which Databricks acquired in 2022, will focus on Databricks’ AI and business intelligence products. Vancouver offers a rich talent pool in data and AI, making it a strategic location for Databricks’ operations. This expansion comes as Databricks is closing a Series K funding round expected to raise around $1 billion, driven by significant investor interest in its AI products. The company, with collaborations with major firms like Microsoft and Google Cloud, reports having over 15,000 organizations using its platform, including more than 60 percent of Fortune 500 companies.