Databricks raises capital at $134 billion valuation

Databricks said Tuesday that it’s raising $4 billion in a funding round that would value the data analytics software company at $134 billion.

The valuation is a 34% jump from the funding round announced in August, which valued the company at $100 billion. At the time, Databricks became one of a handful of private companies to surpass a $100 billion valuation, after SpaceX, ByteDance and OpenAI.

Databricks said it plans to use the capital to support customer app building as artificial intelligence accelerates development. It wants to be the go-to company for organizations looking to build and run AI agents that can carry out work, Ali Ghodsi, Databricks’ co-founder and CEO, told CNBC in an interview.

“It’s kind of a land grab, with do-it-yourself winning right now. So that’s a big opportunity,” he said.

The company said it topped a $4.8 billion revenue run-rate during its fiscal third quarter and is growing 55% year-over-year. That figure is also up from the $4 billion revenue run-rate announced earlier this year. Growth accelerated from the prior quarter, with a noticeable uptick in AI revenue, Ghodsi said.

More staid parts of the business are also gaining traction. Over 1,000 Databricks clients are now using the startup’s Lakebase database software for quickly make note of new incoming data, he said.

Databricks is among a growing list of companies that have opted to stay private for longer as private markets offer more funding opportunities.

Insight Partners, Fidelity Management & Research Company and JPMorgan Asset Management led the round, with participation from Andreessen Horowitz.

Databricks was founded in 2013 in San Francisco and ranked third on CNBC’s 2025 Disruptor 50 list.

— CNBC’s Jordan Novet contributed to this report.