Databricks has announced plans for a new investment round, bringing the analytics company’s valuation to over $100 billion.
In a statement published 19 August, the company said it expects the funding round to “close soon” and includes backing from existing investors.
Databricks said the latest financing round will be used to accelerate its AI strategy, including an expansion to its Agent Bricks service and investment in its new database solution, Lakebase.
The company added that funding will also help drive further “global growth”.
Ali Ghodsi, co-founder and CEO of Databricks, said the latest funding round highlights the “tremendous investor interest” in the company as a result of its AI push.
Databricks launched Agent Bricks at its annual conference in June. The service enables enterprises to build AI agents trained specifically on in-house data.
Lakebase, meanwhile, is a new operational database (OLTP), built on open source Postgres, again aimed at supporting agentic AI development.
The sharpened focus on agentic AI comes amidst a flurry of activity on this front across the industry, with big tech providers including Salesforce, Google, and Microsoft all launching their own agentic AI solutions suites over the last year.
“Every company can securely turn its enterprise data into AI apps and agents to grow revenue faster, operate more efficiently, and make smarter decisions with less risk,” Ghodsi said.
“Databricks is benefiting from an unprecedented global demand for AI apps and agents, turning companies’ data into goldmines. We’re thrilled this round is already over-subscribed and to partner with strategic, long-term investors who share our vision for the future of AI.”
Databricks has been building for growth
Databricks has raised significant investment in recent years, and this latest round brings its valuation up 61% compared to December 2023. In December last year, the firm raised $10 billion in venture capital (VC) funding – one of the largest investment rounds in tech history.
This marked a high point in what was a whirlwind year for the burgeoning data analytics giant. The firm opened a regional hub in London, for example, and confirmed a major acquisition.
June 2024 saw the company announce plans to acquire data management firm Tabular in a deal believed to be worth around $1 billion. This marked the second major acquisition for Databricks in the space of a year, having snapped up LLM startup MosaicML for $1.3 billion in July 2023.
Both these deals were forward-thinking, strategic acquisitions for the firm as it prepared for a major push in the generative AI space – and it appears to have paid dividends.
The company said it has recorded “strong momentum” in the last two quarters, and is on track to surpass $3.7 billion in annual recurring revenue as of July 2025, which represents 50% year-on-year growth.
Closer ties with industry stakeholders have also been secured, with the company having announced – or expanded – partnerships with an array of tech giants, including Microsoft, Google Cloud, SAP, Palantir, and Anthropic.
“More than 15,000 customers around the world use the Databricks Data Intelligence Platform to democratize access to data and AI, making it easier to harness the power of their data for analytics and AI apps and agents,” the company said.
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