Databricks valued at over $100B in new funding round

[Databricks]
hapabapa

Databricks said its new funding round is valuing the cloud-based data analytics company at more than $100B.

Databricks, whose competitors include data cloud platforms such as Snowflake (NYSE:SNOW [https://seekingalpha.com/symbol/SNOW]), said [https://www.databricks.com/company/newsroom/press-releases/databricks-raising-series-k-investment-100-billion-valuation] it has signed a term sheet for its Series K round, which it expects to close soon with backing from existing investors.

The company expects to use the new capital to accelerate its AI strategy — expanding Agent Bricks, investing in its new database offering Lakebase, and boosting global growth.

"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," said Databricks' Co-Founder and CEO Ali Ghodsi.

Databricks noted that in the last two quarters, it has launched or expanded partnerships with Microsoft (MSFT [https://seekingalpha.com/symbol/MSFT]), Alphabet's (GOOG [https://seekingalpha.com/symbol/GOOG]) (GOOGL [https://seekingalpha.com/symbol/GOOGL]) Google Cloud, Anthropic, SAP (SAP [https://seekingalpha.com/symbol/SAP]) and Palantir (PLTR [https://seekingalpha.com/symbol/PLTR]).

In December 2024, Databricks said it was raising [https://seekingalpha.com/news/4387321-databricks-funding-round-propels-data-ai-company-to-62b-valuation#hasComeFromMpArticle] $10B through Series J funding, which valued the company at about $62B.

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