Lovelytics, a consulting firm that helps businesses harness the power of artificial intelligence and other data technologies, has received a strategic investment from the venture unit of San Francisco-based Databricks and Los Angeles-based private equity firm Interlock Equity.
“We placed a bet on Databricks, and now Databricks Ventures is placing a bet on us,” said Lovelytics founder and CEO Scott Love, a former Cox Business executive. “Being Databricks’ first investment in a consulting implementation partner is truly an honor.”
Founded in 2017, Lovelytics operates through technology solution providers such as Databricks, Tableau and Alteryx. The investment is expected to accelerate the growth of Lovelytics’ team and expand its offerings across AI and large language models, business intelligence, data science and cloud infrastructure.
“Partners play an essential role in enabling our customers to derive value from data and AI and we are thrilled to build on our partnership with Lovelytics through this investment,” said Kori O’Brien, senior vice president of partnerships at Databricks. “The Lovelytics team is best-in-class and has been a driving force in helping organizations adopt the Databricks Lakehouse.”
Databricks Ventures’ investment in Lovelytics marks its first investment in a consulting implementation partner. Lovelytics has been an official partner of Databricks since 2021.
“This investment marks a significant milestone in our journey. I am proud to have both Interlock Equity and Databricks Ventures believing and investing in our team, mission, and vision. It’s an affirmation of our hard work and dedication, helping us fuel continued growth, and reaffirming our commitment to our team, customers, services, and partners,” said Love.
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Interlock’s managing director, Stefan Jensen, said Lovelytics is well-positioned to capitalize on growing demand for data management solutions and consulting services. The company plays “a critical role in enabling organizations to optimize the use of exponentially growing datasets to drive actionable intelligence that results in measurable improvements in performance. And they do that with an employee-driven culture that attracts top industry talent,” he said.
Love said his company was “eager to celebrate this milestone.”
“The last six years were the trail leading to the mountain base. Now, with the right team, supportive investment partners, and our customers, we’re ready to ascend further. We look forward to reaching new heights with companies around the globe,” he said.
