Co-founder and CEO Ali Ghodsi tells CNBC that Databricks could go public in 2026.
Just a few months after raising a Series K round and crossing the $100bn valuation mark, software giant Databricks has raised a fresh $4bn investment in a Series L round, valuing the company at $134bn.
The round was led by Insight Partners, Fidelity Management and Research Company, and JP Morgan Asset Management with participation from Andreessen Horowitz, BlackRock, Blackstone and Robinhood Ventures, among others.
The capital infusion allows the company advance product development across three of its strategic products. These include the company’s Lakebase serverless database, Databricks Apps and ‘Agent Bricks’, which helps customers build and scale AI agents on their data.
The funds will be used to continue helping customers build AI apps and agents on their data, leverage Lakebase as the system of record, Databricks Apps as the user experience layer, and Agent Bricks to power multi-agent systems.
In addition, the capital is expected to provide liquidity for employees and help support future AI acquisitions.
“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,” said Ali Ghodsi, the co-founder and CEO of Databricks.
Despite the fresh raise, Ghodsi told CNBC that he wouldn’t rule out an initial public offering in 2026.
“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.”
Databricks crossed $4.8bn in revenue run-rate during its third quarter and is growing 55pc year over year.
Over the past year, the company has launched or expanded partnerships with Microsoft, Google Cloud, Anthropic, SAP and Palantir.
Its five-year deal with Anthropic, valued at $100m, offers Anthropic’s Claude AI models through Databricks’ data intelligence platform, allowing its more than 15,000 client companies to build and deploy AI agents that can reason on their own data.
Don’t miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic’s digest of need-to-know sci-tech news.
