Databricks Joins Elite $100 Billion Club with Series K Funding
Data analytics behemoth, Databricks, recently announced the signing of a term sheet for a Series K funding round. The round is valued at over $100 billion, catapulting Databricks into an exclusive club of private companies with similar valuations. The other members of this elite group include SpaceX, ByteDance, and OpenAI.
Under the leadership of CEO Ali Ghodsi, the San Francisco-based company has ambitious plans for the newly secured capital. Databricks aims to:
- Accelerate its AI strategy
- Expand its Agent Bricks platform
- Invest in Lakebase, a new operational database optimized for AI agents
The funding round, backed by existing investors, was reportedly oversubscribed.
Over the years, Databricks has seen exponential growth, boasting over 15,000 global customers. Major Fortune 500 companies form a significant portion of its clientele, all of whom use its Data Intelligence Platform. As of July 2025, the company’s annual revenue run rate reached a staggering $3.7 billion, marking over 50% year-over-year growth. This latest valuation signifies a 61% increase from its $62 billion valuation in December 2024.
The investment comes at a time when the demand for AI applications and data analytics platforms is skyrocketing. This positions Databricks to compete head-to-head with rivals like Snowflake, which currently has a market cap of approximately $65 billion.
Source: Databricks Press Release