Databricks, the analytics platform, has secured a new round of funding that is poised to propel its valuation beyond the $100bn mark.
The data and AI leader has inked a term sheet for Series K Funding, an advanced form of late-stage investment, with expectations to finalise the deal soon, as reported by City AM.
While the specifics of the fundraising have not been made public, it’s anticipated to result in a 61% surge in Databricks’ valuation from its previous $62bn recorded in late 2024.
The San Francisco-headquartered company plans to channel the fresh capital into accelerating its AI product innovation, expanding its global reach, and exploring AI-centric mergers and acquisitions.
Additionally, the funds will support the development of Agent Bricks – the group’s latest platform for crafting enterprise-level AI agents, as well as Lakebase, an operational database.
“We’re seeing tremendous investor interest because of the momentum behind our AI products,” declared CEO and co-founder Ali Ghodsi.
“Every company can securely turn its enterprise data into AI apps and agents. We’re thrilled this round is already oversubscribed.”
This financing follows a massive $10bn round last year and places Databricks among the world’s top ten most valuable firms.
Last year also saw the opening of the company’s inaugural European headquarters in London, underscoring the UK’s significance as a pivotal market for expansion.
Databrick investors eye IPO
With a client roster that includes 60% of the Fortune 500 and FTSE 100 heavyweights like Shell, Databricks serves over 15,000 customers globally.
The company’s premier data intelligence platform is revolutionising the way businesses convert their raw enterprise data into actionable AI applications and autonomous agents.
Databricks has been busy forging alliances with industry giants such as Microsoft, Google Cloud, Anthropic, SAP, and Palantir, bolstering its influence within the AI sphere.
While Databricks has kept mum on any plans for going public, CEO Ali Ghodsi couldn’t help but reveal to CNBC that his “phone was blowing up” with investor interest post the successful IPO of fintech firm Figma last month.
Despite a slight dip from their debut closing figure of $115.50, Figma’s shares are still trading at well over double their initial public offering price of $33.
Moreover, global tech behemoths are keeping a keen eye on the potential revival of Klarna’s New York listing, viewing it as a barometer for gauging investor sentiment.
