AI group Databricks has expanded into Latin America ahead of an expected IPO over the next 12 months.
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Latin First
Databricks has bought a minority stake in data and artificial intelligence consultancy Indicium, marking its first investment in a startup founded in Latin America.
The investment was made through Databricks Ventures, the company’s venture arm. Financial terms were not disclosed.
Databricks, which offers a platform designed to help users ingest, analyze and build AI applications, was valued at $100 billion in a funding round earlier this year, making it one of the most valuable private companies in the world.
The deal follows Databricks’ recent expansion of its Sao Paulo office and the launch of an office in Mexico.
“We understand that companies need guided support to achieve analytical maturity and AI maturity,” Indicium co-founder Isabela Blasi told Reuters. “The technology alone is not the solution.”
U.S. operations were responsible for 30% of Indicium’s revenue last year, and the company expects to raise that to 60% in 2026.
“We’re investing in Indicium because, over the years, it has established itself as a high-impact partner, with technical and strategic capabilities that align directly with our vision for the future of data and artificial intelligence,” said Kori O’Brien, senior vice president of global partnerships at Databricks.
Float Hopes
Databricks is expected to make $4 billion in revenue for its fiscal year ending in January. That would be a 50% increase from the prior year.
Databricks said sales of its AI products will generate $1 billion of revenue for fiscal 2025. That is one quarter of its total revenue, and a sign of how much demand for the technology is growing.
Analysts expect Databricks to IPO either later this year or in 2026, following on the heels of newly listed peers such as Figma (FIG). Despite some volatility in its share price – see below – market conditions seem to be more attractive for new entrants.
Several companies have filed with the U.S. Securities and Exchange Commission (SEC) to go public in coming months, including cryptocurrency exchange Gemini, blockchain lender Figure, and American Bitcoin, the Bitcoin mining firm associated with U.S. President Donald Trump’s sons Eric and Don Jr.
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