Databricks, a data-analytics software company, is finalising a new funding round that would value the company at $100bn, up over 61% from its last round in December 2024.
The company has signed a term sheet for a very late-stage, or Series K, round, which it expects to close soon with backing from existing investors.
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Databricks co-founder and CEO Ali Ghodsi said: “Databricks is benefiting from an unprecedented global demand for AI apps and agents, turning companies’ data into goldmines.
“We’re thrilled this round is already over-subscribed and to partner with strategic, long-term investors who share our vision for the future of AI.”
The company did not disclose the size of the investment; however, Reuters, citing a person familiar with the matter, reported that the company is looking to raise more than $1bn from existing investors including Thrive Capital, Insight Partners and Andreessen Horowitz.
The company intends to use the new capital to accelerate its AI strategy — expanding Agent Bricks, investing in its new database offering Lakebase, and fuelling global growth.
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By GlobalDataDuring the June Data + AI Summit, Databricks unveiled Agent Bricks, a product designed to create production-ready AI agents tailored to enterprise data, alongside Lakebase, a novel operational database (OLTP) based on open-source Postgres and optimised for AI agents.
The company also intends to use the investment to support future AI acquisitions and deepen AI research.
Over the past two quarters, the company has either launched or broadened partnerships with major firms including Microsoft, Google Cloud, Anthropic, SAP, and Palantir.
Currently, more than 15,000 customers globally utilise the Databricks Data Intelligence Platform.
Built on an open-source framework, the platform aims to democratise access to data and AI, simplifying the process of leveraging data for analytics and AI applications.
Databricks, headquartered in San Francisco, serves more than 15,000 organisations worldwide, including Block, Comcast, Condé Nast, Rivian, and Shell.
The company was established by the original creators of Lakehouse, Apache Spark, Delta Lake, MLflow, and Unity Catalog.
