Databricks rides AI boom to $100bn after new funding
Analytics platform Databricks has sealed a fresh funding round that is set to catapult its valuation over $100bn.
The data and AI heavyweight has signed a term sheet for Series K Funding – a type of advanced, late-stage financing – which is expected to close shortly.
Whilst details of the raise have not been disclosed it will fuel a 61 per cent jump in Databricks valuation from its last recorded figure of $62bn in late 2024.
The San Francisco-based firm said it will use the new capital to accelerate its AI product development, fuel international expansion and pursue AI-focused mergers and acquisitions.
It will also bolster plans for Agent Bricks – the groups new platform for building enterprise-grade AI agents, and Lakebase, an operational database.
“We’re seeing tremendous investor interest because of the momentum behind our AI products,” said chief executive and co-founder Ali Ghodsi.
“Every company can securely turn its enterprise data into AI apps and agents. We’re thrilled this round is already oversubscribed.”
The latest raise follows a whopping $10bn funding round last year. It ranks among the top ten most valuable companies in the world.
The company opened its first European HQ in London last year as it looked to cement the UK as a key market for growth.
Databrick investors eye IPO
Databricks counts 60 per cent of the fortune 500 as well as FTSE 100 giants such as Shell as among its 15,000 global customers.
The firm’s flagship data intelligence platform helps companies transform raw enterprise data into actionable AI applications and autonomous agents.
Databricks has also struck partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir, as it deepened its role in the AI ecosystem.
The group has remained quiet on a potential public listing however Ghodsi told CNBC his “phone was blowing up” with interest from investors following fintech Figma’s IPO last month.
Shares in Figma have since retreated from their initial closing price of $115.50 but the stock still trades more than double its IPO price of $33.
Global tech firms are also eying the revival of Klarna’s New York listing as another way to test investor appetite.