DataBricks' valuation surges past $100 billion after Series K funding round; exploring the path to this milestone
Databricks, the data analytics platform company, has announced plans for a new funding round, aiming to secure over $10 billion and achieve a valuation of over $100 billion. The latest funding round is expected to close soon, with backing from existing investors such as Thrive Capital, Insight Partners, and Andreessen Horowitz.
The new funding will be primarily used to accelerate Databricks' AI strategy and expand its Agent Bricks service. Additionally, it will be allocated for investment in Databricks' new database solution, Lakebase, a new operational database built on open source Postgres.
The funding round will also help drive global growth for Databricks. In the past year, the company has opened a regional hub in London and announced or expanded partnerships with several tech giants, including Microsoft, Google Cloud, SAP, Palantir, and Anthropic.
In June 2024, Databricks announced plans to acquire data management firm Tabular, believed to be worth around $1 billion. The company also acquired LLM startup MosaicML for $1.3 billion in July 2023.
Databricks' CEO, Ali Ghodsi, said the latest funding round highlights investor interest in the company's AI push. The funding round has increased Databricks' valuation by 61% compared to December 2023.
However, it's worth noting that Databricks has not been mentioned as launching an open source large language model, nor has it expanded its AWS partnership to drive generative AI capabilities.
As of July 2025, Databricks is on track to surpass $3.7 billion in annual recurring revenue, representing 50% year-on-year growth. The company currently boasts more than 15,000 customers worldwide using its Data Intelligence Platform.
In the competitive landscape of tech, several big tech providers, including Salesforce, Google, and Microsoft, have launched their own agentic AI solutions suites over the last year. This new funding round positions Databricks to compete effectively in this rapidly evolving market.
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