Databricks raises $1B, surpasses $100B valuation amid AI tool demand
Databricks, the US-based data and AI company, has raised $1 billion in fresh funding, with big-name investors like Andreessen Horowitz and Insight Partners on board.
This latest round pushes Databricks's valuation past $100 billion—fueled by the growing demand for its AI tools.
Plans for new operational database category and more AI products
Databricks helps companies build and deploy AI-powered apps, counting Shell and Rivian among its 15,000+ customers.
With annual revenue topping $4 billion, they're planning to use this new cash to expand its AI products, launch a new operational database category, and invest more in research and acquisitions.
Strong financial metrics and IPO potential
Databricks keeps over 650 customers spending more than $1 million each year and boasts a net revenue retention rate above 140%.
The company's also generating positive free cash flow—a rare feat in tech—and is looking like a strong contender for a future IPO as businesses keep chasing smarter AI solutions.