Databricks has signed a term sheet for its Series K funding round, which the company said will close soon with support from existing investors. The financing values the San Francisco–based data and AI firm at more than $100 billion, marking one of the largest late-stage raises in the AI sector this year. Thrive Capital is expected to co-lead the round, with Andreessen Horowitz also participating.
The raise comes just eight months after Databricks closed its $62 billion Series J, which brought in more than $10 billion in equity and a $5.25 billion credit facility. The new financing represents a 61 percent valuation step-up in less than a year and brings total funding raised to $14.7 billion across 14 rounds.
Databricks plans to use the new capital to expand its AI-first roadmap. That includes Agent Bricks, a platform for building enterprise-grade AI agents fine-tuned on customer data, and Lakebase, an operational database (OLTP) built on open-source Postgres and optimized for AI applications. Both were unveiled at the company’s June Data + AI Summit.
CEO and co-founder Ali Ghodsi framed the financing as validation of Databricks’ approach:
“Every company can securely turn its enterprise data into AI apps and agents to grow revenue faster, operate more efficiently, and make smarter decisions with less risk. Databricks is benefiting from an unprecedented global demand for AI apps and agents, turning companies’ data into goldmines.”
The company said the proceeds will also be directed toward future acquisitions, deepening AI research, and global expansion.
Founded by the original creators of Apache Spark, Delta Lake, MLflow, Unity Catalog, and the Lakehouse architecture, Databricks has become a key part of enterprise data stacks. More than 15,000 organizations now use the Databricks Data Intelligence Platform, including Block, Rivian, Shell, Comcast, and Condé Nast. Over 60 percent of Fortune 500 companies are customers.
The company does not disclose detailed financials but has reported rapid acceleration. In December, Databricks said it had grown 60 percent year-over-year and expected to surpass $3 billion in annual revenue by the end of 2024. More recent reports suggest the figure could climb toward $4 billion by year-end 2025, with sales growth forecast at more than 40 percent this year and into 2026.
Databricks also said it is adding roughly 3,000 new hires in 2025, expanding a global workforce of 9,000. Demand is expected to surge in go-to-market, engineering, partner sales, and customer success roles.
The funding round follows an active period of industry collaboration. In the last two quarters, Databricks has launched or expanded partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir. Databricks is also sharpening its focus on India. The company has committed $250 million over three years to expand its Bengaluru office and build local R&D, sales, and training capacity. The India Data + AI Academy aims to train half a million professionals in data and AI skills, a move that positions Databricks as both a technology provider and a workforce development partner in one of the world’s fastest-growing tech markets.The raise highlights Databricks’ increasingly direct competition with Snowflake and cloud hyperscalers.
Unlike Snowflake, which faces pressure as a public company to balance capital deployment with shareholder returns, Databricks is privately raising large rounds to accelerate product and market growth. Industry observers expect the new funding to be used for consolidation moves around AI tooling, data governance, and inference infrastructure. Databricks is not rushing into the public markets, even after repeated speculation about a near-term IPO. For now, the company is “keeping powder dry” with fresh capital.
