(Reuters) -Databricks will acquire machine learning startup Tecton to expand its AI agent offerings, the latest in a string of deals aimed at offering full-scale AI building tools for enterprise customers, its chief executive told Reuters on Friday.
Tecton, backed by Sequoia Capital and Kleiner Perkins, provides software that helps companies analyze and deploy data at scale with low latency.
Financial terms of the deal, which consists of Databricks’ private shares, were not disclosed. Tecton was last valued at $900 million in a 2022 private funding round and has about 90 employees.
The deal comes on the heels of Databricks’ announcement this week that it had signed a term sheet for a new funding round at a valuation of more than $100 billion, up more than 60% from eight months ago.
Tecton has raised $160 million from investors including Andreessen Horowitz and Bain Capital Ventures since it was founded in 2020 by former Uber engineers who created Michelangelo, an AI platform that Uber uses internally for real-time pricing and other functions.
