Databricks Raises Funding at $100 Billion Valuation to Accelerate AI Push
The round, already oversubscribed, is backed by existing investors and is expected to close soon.
India, August 19: Databricks, the Data and AI company, said on Tuesday that it has signed a term sheet for its Series K funding round, valuing the company at over $100 billion. The round, already oversubscribed, is backed by existing investors and is expected to close soon.
The company said the fresh capital will fuel its AI strategy, including expansion of Agent Bricks—a new product for building high-quality enterprise AI agents—investment in its operational database Lakebase, and global business growth. Databricks also plans to use the funds for AI-focused acquisitions and to deepen research in the field.
“We’re seeing tremendous investor interest because of the momentum behind our AI products, which power the world’s largest businesses and AI services,” said Ali Ghodsi, co-founder and CEO of Databricks. “Every company can securely turn its enterprise data into AI apps and agents to grow revenue faster, operate more efficiently, and make smarter decisions with less risk.”
At its June Data + AI Summit, Databricks unveiled Agent Bricks and Lakebase. The latter is a new type of operational database built on open-source Postgres and optimized for AI agents.
The announcement follows a string of high-profile partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir in recent quarters. Databricks said its Data Intelligence Platform is used by more than 15,000 customers worldwide, including Block, Comcast, Condé Nast, Rivian, and Shell, as well as over 60% of the Fortune 500.
Headquartered in San Francisco, Databricks was founded by the original creators of Apache Spark, Delta Lake, MLflow, and Unity Catalog, and today operates offices globally.
