DBT Bureau
Pune, 2 Jan 2026
Databricks has raised more than $4 billion in a Series L funding round, valuing the data and AI company at $134 billion, as it continues to scale rapidly across enterprise analytics and AI. The company crossed a $4.8 billion annualized revenue run-rate in its third quarter, growing over 55% year on year, with both its data warehousing and AI product businesses surpassing $1 billion in revenue run-rate each, while also delivering positive free cash flow over the past 12 months—underscoring a rare blend of hypergrowth and financial discipline in the private tech market.
The parallel rise of vibe coding and generative AI is accelerating the development of Data Intelligent Applications in the enterprise. Databricks will use this new capital to help customers build AI apps and agents on their proprietary data, leveraging Lakebase as the system of record, Databricks Apps as the user experience layer, and Agent Bricks to power multi-agent systems.
The round was led by Insight Partners, Fidelity Management & Research Company, and J.P. Morgan Asset Management with additional participation from Andreessen Horowitz, funds and accounts managed by BlackRock, funds managed by Blackstone, Coatue, GIC, MGX, NEA, Ontario Teachers Pension Plan, Robinhood Ventures, accounts advised by T. Rowe Price Associates, Inc., Temasek, Thrive Capital and Winslow Capital. This new investment builds on Databricks’ accelerating financial results and underscores the company’s vision to make data and AI accessible to all organizations.
Databricks’ Financial Momentum
This funding follows continued strong momentum across Databricks’ business, including:
The funding comes on the back of strong business momentum at Databricks, with the company surpassing a $4.8 billion revenue run-rate and posting year-on-year growth of more than 55%, while remaining free cash flow positive over the past 12 months. Its AI products have crossed a $1 billion revenue run-rate, and its Data Warehousing business has also exceeded a $1 billion run-rate in less than four years since general availability. The recently launched Lakebase has attracted thousands of customers within its first six months and is generating revenue at twice the pace of Databricks’ data warehousing offering, while the company continues to post a net retention rate above 140% and now has over 700 customers each contributing more than $1 million in annualized revenue.
The Rise of Data Intelligent Applications
Databricks’ Series L funding will advance product development across three strategic products, helping customers build Data Intelligent Applications.
- Lakebase is the first serverless Postgres database purpose-built for the age of AI.
- Databricks Apps offers world-class speed and security to build and deploy data and AI applications.
- Agent Bricks makes it easy for organizations to build and scale high-quality agents on their data.
In addition to fueling its growth, this capital is expected to be used to provide liquidity for employees. The investment is also expected to support future AI acquisitions and deepen AI research.
“Enterprises are rapidly reimagining how they build intelligent applications, and the convergence of generative AI with new coding paradigms is opening the door to entirely new workloads. With this investment, we’re deepening our commitment to help every organization innovate with AI on their own data,” said Ali Ghodsi, co-founder and CEO of Databricks. “By anchoring transactional data in Lakebase, delivering intuitive experiences through Databricks Apps, and enabling advanced multi-agent systems with Agent Bricks, we’re giving customers a unified foundation to build trusted, high-performance Data Intelligent Applications at scale.”
“Our continued investment in Databricks reflects our deep conviction in their extraordinary momentum today and their ambitious vision for the future,” said John Wolff, Managing Director at Insight Partners. “Databricks leads the way in turning AI innovation into enterprise impact. We’re thrilled to deepen our investment in a team that continues to pair strong financial performance with real customer results, setting the standard for how AI creates value for businesses. Databricks is just getting started.”
