Databricks has announced it has raised more than $4 billion in a Series L funding round, valuing the company at $134 billion. The company reported a revenue run-rate exceeding $4.8 billion in Q3, growing more than 55% year over year, including over $1 billion each from its AI products and Data Warehousing business, while maintaining positive free cash flow over the past 12 months. Databricks’ platform serves over 20,000 organizations worldwide, including adidas, AT&T, Bayer, Block, Mastercard, Rivian, and Unilever.
The Series L round was led by Insight Partners, Fidelity, and J.P. Morgan, with participation from Andreessen Horowitz, BlackRock, Blackstone, Coatue, GIC, MGX, NEA, and others. CEO Ali Ghodsi stated, “With this investment, we’re deepening our commitment to help every organization innovate with AI on their own data.”
The new capital will support product development across Databricks’ strategic offerings, including Lakebase, a serverless Postgres database for AI; Databricks Apps, which enables fast and secure deployment of AI applications; and Agent Bricks, which powers multi-agent systems. Ghodsi added that Databricks provides a unified platform with Lakebase, Databricks Apps, and Agent Bricks for building reliable, high-performance AI applications. The funding will also provide liquidity for employees, support AI research, and enable potential acquisitions.