Databricks Surpasses $4B Revenue Run-Rate, Hits $100B Valuation with $1B Series K
The company continues to maintain a strong net retention rate above 140%, with over 650 customers each generating more than $1 million in annual revenue run-rate.
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Databricks, the data and AI powerhouse, has crossed a $4 billion revenue run-rate in Q2, growing more than 50% year-over-year. Its AI products alone recently surpassed a $1 billion revenue run-rate, underscoring the surging enterprise demand for production-grade AI. The company has also maintained positive free cash flow over the last 12 months.
Databricks’ performance highlights its rising dominance in the enterprise AI and data space. It continues to maintain a strong net retention rate above 140%, with over 650 customers each generating more than $1 million in annual revenue run-rate.
Adding to the momentum, Databricks is closing a massive $1 billion Series K round, valuing the company at over $100 billion. The round is co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management.
Fueling the AI Future
The new funding will be channeled into accelerating Databricks’ AI roadmap, including scaling its latest innovations, Agent Bricks and Lakebase, while supporting global expansion.
At its Data + AI Summit held in June, the company introduced Agent Bricks, designed to build high-quality, production AI agents optimized for enterprise data. It also launched Lakebase, a new operational database category built on open-source Postgres, tailored for AI agents. The fresh capital will also support AI-focused acquisitions and deeper AI research.
Ali Ghodsi, Co-Founder and CEO of Databricks, said, “Our teams are putting up these results by building the data and AI infrastructure that enterprises will rely on for decades. With this new capital, we can move even faster with Agent Bricks, helping customers in every industry turn their data into production AI agents, and carry more momentum as we create the new Lakebase category, reinventing databases for AI agents.”
Databricks’ surge is backed by strong ecosystem ties. Over the past two quarters, it has launched or expanded partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir. To further fuel innovation, the company has also signed new office leases in San Francisco and Sunnyvale, aiming to attract top AI talent.
The Databricks Data Intelligence Platform remains central to its growth. Built on an open-source foundation, the platform makes it easier for organizations to unify and analyze data while powering AI apps and agents, ultimately helping enterprises unlock new revenue streams, cut costs, and reduce risks.
