Databricks raises at $134bn valuation on $4.8bn revenue run-rate
The Series L, led by Insight Partners, Fidelity and JPMorgan Asset Management, valued the data and AI infrastructure company 34% above its round four months earlier.
- Money & business
- Minor
Databricks said it was raising more than $4 billion in a Series L round at a $134 billion valuation, led by Insight Partners, Fidelity Management & Research and J.P. Morgan Asset Management, with participation from Andreessen Horowitz, BlackRock, Blackstone and other investors. The valuation was up 34% from the $100 billion mark set in a round announced four months earlier, in August 2025.
The company said its annualised revenue run-rate had surpassed $4.8 billion, up more than 55% year over year, with both its data-warehousing and AI-products lines each individually exceeding $1 billion in run-rate, more than 700 customers generating over $1 million in annual run-rate each, and positive free cash flow over the trailing twelve months. Chief executive Ali Ghodsi said the funding would go toward products including Lakebase, Databricks Apps and Agent Bricks, employee liquidity, and further AI acquisitions and research.
The round placed Databricks among the small group of AI-adjacent infrastructure companies to reach a valuation above $100 billion without a public listing, and its disclosed revenue figures — positive free cash flow alongside rapid growth — were unusual enough among large AI-era private companies to be treated as a credibility marker in press coverage, distinguishing it from firms burning cash to fund growth at similar valuations.