Databricks Hits $100 Billion Valuation with $1 Billion Raise, Projects $4 Billion Revenue
Databricks, the San Francisco-based data analytics and AI firm, announced on Monday that it has closed a $1 billion Series K funding round at a $100 billion valuation, cementing its position as one of the world’s most valuable private companies.
The round was co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management. The fresh capital will fuel Databricks’ AI strategy, supporting new product launches, acquisitions, and advanced research.
The company revealed it is now on track to hit $4 billion in annualized revenue, with AI-related products contributing $1 billion. Its customer base has grown to around 15,000 clients, including Shell and Rivian, while its Lakebase data warehouse has already reached tens of millions in annualized revenue just months after launch.
CEO Ali Ghodsi said Databricks will remain cash-flow positive, keeping the option of an IPO open but without a fixed timeline. The company is also investing in Agent Bricks, its new AI platform for building autonomous systems, and recently acquired Tecton, a machine learning startup.
With net revenue retention above 140%, over 650 customers spending more than $1 million annually, and positive free cash flow, Databricks is positioning itself as a leader in the AI and big data race—and a likely candidate for one of the most anticipated IPOs in the sector.