– Series K investment is being finalized, with the company valued at over $100 billion.
Databricks , an industry-leading data and AI company, announced that its annual revenue run rate exceeded $4 billion during the second quarter of fiscal 2025. This represents over 50% year-over-year growth, and its AI product line revenue run rate recently surpassed $1 billion. Databricks has also generated positive free cash flow over the past 12 months. Databricks is currently closing a $1 billion Series K financing, valuing the company at over $100 billion. The round was co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management.
This new investment follows Databricks' strong growth. Key achievements include:
- Annual sales run rate exceeded $4 billion, growing more than 50% year-over-year.
- AI product sales run rate exceeds $1 billion
- Achieved positive free cash flow over the past 12 months
- Net Revenue Retention Rate (NRR) sustained at 140% or higher
- Secured over 650 clients with annual spending of over $1 million
With this new investment, Databricks plans to further accelerate its AI strategy. Specifically, it will focus on expanding Agent Bricks, launching a new category called Lakebase, and securing resources for global growth. Unveiled at the Data + AI Summit in June, Agent Bricks enables the automated deployment of high-quality AI agents optimized for enterprise data. Lakebase, a next-generation operational transaction processing (OLTP) database built on open-source Postgres, is specialized for running AI agents. This investment will also be used to strengthen future acquisitions and research in the AI field.
“We are building a data and AI infrastructure that enterprises can rely on for decades to come,” said Ali Ghodsi, co-founder and CEO of Databricks. “This investment will allow us to accelerate the pace of scaling Agentbricks, empower customers across all industries to turn their data into real-world production AI agents, and launch a new Lakebase category that re-architects the database for AI agents.”
This investment reflects Databricks' continued growth. Over the past two quarters, the company has expanded its partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir. The company also signed new office leases in San Francisco and Sunnyvale this year, further strengthening its commitment to attracting top AI talent.
Meanwhile, the Databricks Data Intelligence Platform democratizes access to data and AI, enabling businesses to easily leverage data to implement analytics, AI applications, and agents. Built on an open-source foundation, the platform helps businesses accelerate innovation while simultaneously increasing revenue, reducing costs, and mitigating risk.
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