Databricks Raises Over $4B in Series L at $134B Valuation

Databricks has raised more than $4 billion in a Series L round at a $134 billion valuation. The company says its revenue run-rate has crossed $4.8 billion, growing over 55% from last year.

Funding details: Over $4 billion (Series L)

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Databricks has raised more than $4 billion in a new Series L funding round, pushing its valuation to $134 billion. The round comes as the company’s revenue run-rate crossed $4.8 billion during the quarter, with growth of over 55% compared to last year.

The San Francisco–based company makes tools that help businesses work with data and AI. It said more than $1 billion of its run-rate now comes from AI products, with another $1 billion coming from data warehousing. The company has also stayed cash-flow positive over the past year.

The funding round was led by Insight Partners, along with Fidelity Management & Research Company and J.P. Morgan Asset Management. Other backers in the round include Andreessen Horowitz, BlackRock, Blackstone, Coatue, GIC, NEA, Temasek, and Thrive Capital.

Databricks plans to use the new money to build more AI tools for companies. These include products like Lakebase, Databricks Apps, and Agent Bricks. The company said part of the funding will also help give liquidity to employees and support future AI-focused acquisitions.

Databricks serves more than 20,000 customers worldwide, including many large global brands. The company continues to benefit from strong demand as businesses look to use AI with their own data. The announcement was shared by the company on its official newsroom page.