Databricks plans more than $4bn Series L at $134bn valuation

Databricks has announced plans to rise much than $4bn successful a Series L backing circular that values the institution astatine $134bn.

The San Francisco-based information and AI institution surpassed a $4.8bn gross run-rate during its 3rd quarter, with year-on-year maturation of much than 55%.

The run-rate fig includes much than $1bn from its information warehousing concern and much than $1bn from its AI products. The institution has delivered affirmative escaped currency travel implicit the 12 months since December 2024.

Insight Partners, Fidelity Management & Research Company, and JP Morgan Asset Management are starring the Series L investment.

Additional investors successful the circular see Andreessen Horowitz, funds and accounts managed by BlackRock, funds managed by Blackstone, Robinhood Ventures and Thrive Capital.

The backing volition enactment merchandise improvement successful 3 strategical areas: Lakebase, Databricks Apps and Agent Bricks.

The backing volition beryllium utilized to assistance customers make AI applications and agent-based tools utilizing their ain proprietary data. The attack volition presumption Lakebase arsenic the strategy of record, Databricks Apps arsenic the user-facing acquisition furniture and Agent Bricks arsenic the motor for multi-agent workflows.

It linked this absorption to what it called the parallel emergence of “vibe coding” and generative AI (gen AI), which is accelerating the improvement of information data-intelligent applications successful enterprises.

Databricks Apps enables organisations to physique and deploy information and AI applications rapidly and securely. Agent Bricks is designed to simplify the instauration and scaling of high-quality agents utilizing an organisation’s ain data.

According to Databricks, Lakebase is simply a serverless PostgreSQL database designed specifically to enactment AI-era workloads.

Databricks co-founder and CEO Ali Ghodsi stated: “Enterprises are rapidly reimagining however they physique intelligent applications, and the convergence of generative AI with caller coding paradigms is opening the doorway to wholly caller workloads.

“With this investment, we’re deepening our committedness to assistance each organisation innovate with AI connected their ain data.”

In its archetypal six months, Lakebase has drawn thousands of customers and is generating gross maturation astatine doubly the gait of its information warehousing product.

The Data Warehousing merchandise reached a gross run-rate of much than $1bn successful little than 4 years from wide availability.

Databricks' AI products person achieved a gross run-rate of much than $1bn. Its nett retention complaint remains supra 140% and much than 700 customers are consuming astatine an yearly gross run-rate of much than $1m.