Analytics solutions provider Databricks has secured a new funding round that is expected to elevate its valuation to over $100 billion. The data and AI leader has signed a term sheet for Series K funding, a form of advanced, late-stage financing, which is anticipated to close soon.
Although specific details of the funding have not been disclosed, it will result in a 61% increase in Databricks’ valuation from its last recorded figure of $62 billion in late 2024. The San Francisco-based company plans to utilise the new capital to accelerate its AI product development, support international expansion, and pursue AI-focused mergers and acquisitions.
Additionally, the funding will strengthen plans for Agent Bricks, the company’s new platform for developing enterprise-grade AI agents, and Lakebase, an operational database. “We’re seeing tremendous investor interest because of the momentum behind our AI products,” said Ali Ghodsi, chief executive and co-founder. “Every company can securely turn its enterprise data into AI apps and agents. We’re thrilled this round is already oversubscribed.”
This latest funding follows a substantial $10 billion round last year, placing Databricks among the top ten most valuable companies globally. The company established its first European headquarters in London last year, aiming to solidify the UK as a critical market for growth.
Databricks serves 60% of the Fortune 500, including FTSE 100 giants like Shell, among its 15,000 global customers. Its flagship data intelligence platform enables companies to transform raw enterprise data into actionable AI applications and autonomous agents. The firm has also developed partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir, enhancing its role within the AI ecosystem.
While the company has remained quiet about a potential public listing, Ghodsi mentioned to CNBC that his “phone was blowing up” with investor interest following fintech Figma’s IPO last month. Shares in Figma have since decreased from their initial closing price of $115.50, yet the stock continues to trade at more than double its IPO price of $33. Global tech firms are also observing the revival of Klarna’s New York listing as another gauge of investor interest.
