<p><strong>SAN FRANCISCO — </strong>Data and AI company <a href="https://www.databricks.com/" data-external-link="true">Databricks</a> has snagged a massive $4 billion-plus Series L investment, valuing the company at $134 billion. Additionally, the company said it crossed a $4.8 billion revenue run-rate during its third quarter, growing >;55% year over year, including >;$1 billion revenue run-rate from its Data Warehousing business and >;$1 billion revenue run-rate from its AI products — all while delivering positive free cash flow over the last 12 months.</p>
<p>The round was led by Insight Partners, Fidelity Management &; Research Company, and J.P. Morgan Asset Management with additional participation from Andreessen Horowitz, funds and accounts managed by BlackRock, funds managed by Blackstone (“Blackstone”), Coatue, GIC, MGX, NEA, Ontario Teachers Pension Plan, Robinhood Ventures, accounts advised by T. Rowe Price Associates, Inc., Temasek, Thrive Capital and Winslow Capital. This new investment builds on Databricks’ accelerating financial results and underscores the company’s vision to make data and AI accessible to all organizations.</p>
<p>The parallel rise of vibe coding and generative AI is accelerating the development of Data Intelligent Applications in the enterprise. Databricks will use this new capital to help customers build AI apps and agents on their proprietary data, leveraging Lakebase as the system of record, Databricks Apps as the user experience layer, and Agent Bricks to power multi-agent systems.</p>
<p>This massive funding, according to the company, follows continued strong momentum across its business, including:</p>
<ul>
<li>Surpassing $4.8 billion revenue run-rate, growing >;55% year over year.</li>
<li>Continuing to achieve positive free cash flow over the last 12 months.</li>
<li>Achieving >;$1 billion revenue run-rate for its AI products.</li>
<li>In its first six months, Lakebase already has thousands of customers and is growing revenue at twice the pace of its Data Warehousing product.</li>
<li>Achieving >;$1 billion revenue run-rate for its Data Warehousing product in less than four years from general availability.</li>
<li>Net retention rate sustaining >;140%.</li>
<li>>;700 customers consuming at over $1 million annual revenue run-rate.</li>
</ul>
<p>Databricks’ Series L funding will advance product development across three strategic products, helping customers build Data Intelligent Applications.</p>
<ul>
<li><a href="https://www.databricks.com/product/lakebase" data-external-link="true">Lakebase</a> is the first serverless Postgres database purpose-built for the age of AI.</li>
<li><a href="https://www.databricks.com/product/databricks-apps" data-external-link="true">Databricks Apps</a> offers world-class speed and security to build and deploy data and AI applications.</li>
<li><a href="https://www.databricks.com/product/artificial-intelligence/agent-bricks" data-external-link="true">Agent Bricks</a> makes it easy for organizations to build and scale high-quality agents on their data.</li>
</ul>
<p>In addition to fueling its growth, this capital is expected to be used to provide liquidity for employees. The investment is also expected to support future AI acquisitions and deepen AI research.</p>
<p>&#8220;Enterprises are rapidly reimagining how they build intelligent applications, and the convergence of generative AI with new coding paradigms is opening the door to entirely new workloads. With this investment, we’re deepening our commitment to help every organization innovate with AI on their own data,” said Ali Ghodsi, co-founder and CEO of Databricks. “By anchoring transactional data in Lakebase, delivering intuitive experiences through Databricks Apps, and enabling advanced multi-agent systems with Agent Bricks, we’re giving customers a unified foundation to build trusted, high-performance Data Intelligent Applications at scale.&#8221;</p>
<p>More than 20,000 organizations worldwide — including adidas, AT&;T, Bayer, Block, Mastercard, Rivian, Unilever, and over 60% of the Fortune 500 — rely on Databricks to build and scale data and AI apps, analytics and agents. Databricks is headquartered in San Francisco with 30+ offices around the globe.</p>

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