Manufacturing
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.
