Databricks Launches Venture Fund to Push New Data Architecture

Databricks Inc., a data analytics software maker, is launching a venture fund that will back startups using its tools, and young companies it sees as potential partners.

The San Francisco-based company gained a $38 billion valuation by popularizing what it calls the data lakehouse. Backers claim this updated way to store, cull and analyze information will be a death knell for the data warehouse, a software technology that has remained a staple within corporate IT portfolios for more than three decades. To push that vision along and compete against rivals like Snowflake Inc., Amazon.com Inc. and Alphabet Inc. ...