Databricks has closed a $1 billion Series K funding round, valuing the San Francisco company at more than $100 billion. The round was led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital and WCM Investment Management. The move was expected after Databricks signaled last month that it was seeking funding at this scale.The company said the capital will be used to accelerate its AI strategy, including work on Agent Bricks - its tools for building production AI agents - and Lakebase, a new operational database introduced in June. Databricks also pointed to acquisitions, expanded research, and international growth as areas the investment will support.Alongside the funding announcement, Databricks revealed details on its financial performance. The company reported surpassing a $4 billion annual revenue run rate in its second quarter with 50 percent year-over-year growth, along with positive free cash flow over the past year. Its AI products now generate more than $1 billion annually, with a net retention rate above 140 percent.Databricks said more than 20,000 organizations use its platform, including 650 customers that each spend more than $1 million annually. The company also highlighted partnerships established or expanded in recent months with Microsoft, Google Cloud, Anthropic, SAP and Palantir - signaling its intent to deepen ties across the AI ecosystem.
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