Databricks, the San Francisco-headquartered data and AI company, has announced it has secured fresh investment while reporting major growth milestones across its business.
The firm confirmed it is closing a $1bn Series K funding round at a valuation of over $100bn.
The round is being co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management.
Databricks specialises in data and AI technologies, with its flagship Data Intelligence Platform enabling organisations to unify, process and analyse data for both traditional analytics and artificial intelligence applications. The platform is built on an open source foundation, drawing on technologies such as Apache Spark, Delta Lake, MLflow and Unity Catalog.
The company said the fresh funding will support its AI strategy, including expanding its new Agent Bricks tool, which helps enterprises build production-ready AI agents, and the launch of Lakebase, a new open source Postgres-based operational database optimised for AI agents. The capital will also back further acquisitions, expanded research, and global growth initiatives.
The investment follows a period of strong performance. Databricks recently surpassed a $4bn revenue run-rate, growing more than 50% year on year, with AI products contributing over $1bn in annual run-rate revenue. The company also reported a net retention rate above 140%, more than 650 customers generating over $1m each in annual revenue run-rate, and positive free cash flow over the past year.
Ali Ghodsi, Databricks co-founder and CEO, said, “Our teams are putting up these results by building the data and AI infrastructure enterprises will rely on for decades.
“With this new capital, we can move even faster with Agent Bricks, helping customers in every industry turn their data into production AI agents, and carry more momentum as we create the new Lakebase category, reinventing databases for AI agents.”
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