Databricks Raises Over $4B at $134B Valuation, Reaches $4.8B Revenue Run-Rate

San Francisco-based Databricks has raised more than $4 billion in a Series L funding round, valuing the company at $134 billion, announced in a press release. The company also reported a $4.8 billion revenue run-rate for its third quarter, reflecting growth of over 55% year over year.

Databricks said the new capital will be used to expand its AI and data platform offerings, including Lakebase, Databricks Apps, and Agent Bricks. Lakebase is described as a serverless Postgres database designed for AI workloads, while Agent Bricks helps organizations build and scale AI agents. Databricks Apps provides a framework for developing and deploying data and AI applications.

The Series L round was led by Insight Partners, Fidelity Management & Research Company, and J.P. Morgan Asset Management, with participation from Andreessen Horowitz, BlackRock, Blackstone, GIC, NEA, Temasek, and others. The company said the funding will also provide liquidity for employees and support future AI-related acquisitions and research.

Databricks reported that its AI and data warehousing products each now exceed a $1 billion annual revenue run-rate, and that it continues to maintain positive free cash flow over the past 12 months.