Databricks Secures $4 Billion Funding at $134 Billion Valuation Following AI Business Surge

The IPO window may have cracked open, but it appears some former startups have no immediate plans to go public. This makes sense in a way: historically, IPOs were a primary method to raise capital. If a company can secure massive funding without subjecting itself to public market scrutiny, why would it choose to?

Databricks exemplifies this trend. The data intelligence company has just closed a Series L funding round, raising over $4 billion at a staggering $134 billion valuation—a 34% increase from the $100 billion valuation it achieved just three months prior.

This marks Databricks' third major venture fundraising in under a year, coinciding with its intensified focus on developing products for the AI revolution. Key initiatives include a database for AI agents, an AI agent platform, and applications that enable companies to build and deploy data and AI solutions.

The company is making significant investments in its AI agent database, Lakebase. Built on the open-source Postgres database (powered by the $1 billion acquisition of startup Neon), Lakebase targets corporate developers engaged in "vibe-coding" projects. Concurrently, its AI agent platform, Agent Bricks, is designed to help businesses build and deploy AI agents that can leverage their proprietary data. Databricks has also secured major deals worth hundreds of millions with AI labs Anthropic and OpenAI to integrate their models into its enterprise products.

While Series L rounds are relatively rare, Databricks' ability to raise venture capital at progressively higher valuations—it was valued at $60 billion approximately a year ago—signals strong investor confidence in its mission to help companies harness data for AI-driven growth.

In fact, Databricks announced on Tuesday that it now boasts an annual run-rate revenue exceeding $4.8 billion, a 55% increase from the previous year. Over $1 billion of this revenue is attributed to its AI products.

"The simultaneous rise of vibe coding and generative AI is accelerating the creation of data-intelligent applications within enterprises. Databricks will deploy this new capital to help customers build AI apps and agents using their proprietary data. This will be achieved by utilizing Lakebase as the foundational system of record, Databricks Apps as the user experience layer, and Agent Bricks to power sophisticated multi-agent systems," the company stated in a press release.

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Join the Disrupt 2026 Waitlist

Secure your spot on the Disrupt 2026 waitlist for priority access when Early Bird tickets are released. Previous Disrupt events have featured industry giants like Google Cloud, Netflix, Microsoft, Box, Phia, a16z, ElevenLabs, Wayve, Hugging Face, Elad Gil, and Vinod Khosla. They are part of over 250 leaders headlining 200+ sessions designed to accelerate your growth and sharpen your competitive edge. Additionally, connect with hundreds of startups that are driving innovation across every industry.

According to The Wall Street Journal, the company will also use the fresh capital to create thousands of new jobs across Asia, Europe, and Latin America, in addition to hiring more AI researchers.

"Enterprises are swiftly redefining how they construct intelligent applications. The fusion of generative AI with new coding paradigms is unlocking entirely new types of workloads," said Databricks co-founder and CEO Ali Ghodsi in a statement.

The funding round was led by Insight Partners, Fidelity, and J.P. Morgan Asset Management. Other participants included Andreessen Horowitz, BlackRock, Blackstone, Coatue, GIC, MGX, NEA, Ontario Teachers' Pension Plan, Robinhood Ventures, T. Rowe Price Associates, Temasek, Thrive Capital, and Winslow Capital.