Databricks, a San Francisco-based Data and AI company, announced it has signed a term sheet for its Series K round, valuing the firm at more than $100 billion. The company expects to close the round shortly with participation from existing investors.
Proceeds will be directed toward advancing its AI roadmap, including scaling its new database product Lakebase, expanding its Agent Bricks platform for enterprise AI agents, and accelerating international expansion. The funding is also expected to support acquisitions and deepen internal research initiatives. At its June Data + AI Summit, Databricks highlighted Agent Bricks and Lakebase as strategic offerings designed to optimize AI deployment on enterprise data.
CEO and Co-Founder Ali Ghodsi emphasized the strong investor response. “We’re seeing tremendous investor interest because of the momentum behind our AI products, which power the world’s largest businesses and AI services,” he said, adding that demand for enterprise AI agents is “turning companies’ data into goldmines.” The latest round follows new or expanded partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir. Today, more than 15,000 organizations, including Block, Comcast, Rivian, and Shell, use the Databricks Data Intelligence Platform to build analytics, AI applications, and agents. Founded by the creators of Apache Spark, Delta Lake, and MLflow, Databricks continues to broaden its influence in enterprise AI.