Databricks has achieved a significant milestone by surpassing a $5.4 billion revenue run-rate with over 65% year-over-year growth in Q4, while securing more than $7 billion in new investments at a $134 billion valuation. This funding, comprising approximately $5 billion in equity and $2 billion in debt capacity, will accelerate development of Lakebase, its serverless Postgres database for AI agents, and Genie, its conversational AI assistant for data interaction.
Quick Intel
Databricks, a leading Data and AI company, continues its rapid expansion with impressive financial performance and substantial new capital to fuel innovation in enterprise AI solutions.
The company reported crossing a $5.4 billion revenue run-rate in its fourth quarter, driven by more than 65% year-over-year growth. This momentum is supported by positive free cash flow over the past 12 months, a $1.4 billion revenue run-rate for AI products, and a net retention rate exceeding 140%. Databricks now serves more than 800 customers generating over $1 million in annual revenue run-rate, with over 70 customers exceeding $10 million.
In tandem with this growth, Databricks has closed additional financing totaling more than $7 billion. This includes approximately $5 billion in equity at a $134 billion valuation and about $2 billion in expanded debt capacity. The round attracted both returning and new investors, with notable participation from JPMorganChase through its Security and Resiliency Initiative's Strategic Investment Group, alongside Glade Brook Capital, Growth Equity at Goldman Sachs Alternatives, Microsoft, Morgan Stanley, funds affiliated with Neuberger, Qatar Investment Authority (QIA), funds associated with UBS, and others. The credit facilities were led by JPMorgan Chase Bank, N.A., with Barclays, Citi, Goldman Sachs, Morgan Stanley, and additional institutions.
Ali Ghodsi, co-founder and CEO of Databricks, said: "We're seeing overwhelming investor interest in our next chapter as we go after two new markets. With this new capital, we'll double down on Lakebase so developers can create operational databases built for AI agents. At the same time, we're investing in Genie to let every employee chat with their data, driving accurate and actionable insights."
Todd Combs, Head of the Strategic Investment Group for JPMorganChase's Security and Resiliency Initiative, commented: "Databricks is a generational company that has become a backbone for enterprise data and AI, helping organizations across critical sectors seize opportunities and overcome challenges. This initial investment reflects the strength of Databricks' secure platform and continues to support their innovative, production‑scale applications that serve customers around the world."
The new funding will enable Databricks to advance Lakebase, its serverless Postgres database designed specifically for AI-driven applications, allowing faster development of data and AI solutions on a unified platform. Investments will also scale Genie, enhancing its natural-language capabilities to make data querying and insights accessible to all employees. Additional priorities include advancing AI research, pursuing strategic acquisitions, and providing employee liquidity.
These developments position Databricks to strengthen its leadership in the Data and AI space, delivering greater value to enterprises navigating AI transformation.
About Databricks
Databricks is the Data and AI company. More than 20,000 organizations worldwide — including adidas, AT&T, Bayer, Block, Mastercard, Rivian, Unilever, and over 60% of the Fortune 500 — rely on Databricks to build and scale data and AI apps, analytics and agents. Headquartered in San Francisco with 30+ offices around the globe, Databricks offers a unified Data Intelligence Platform that includes Agent Bricks, Genie, Lakebase, Lakeflow, Lakehouse, and Unity Catalog.
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