Databricks raises $4B at valuation of $134B as its AI business grows

It may be an IPO window Cracked It opensBut some of the earlier startups seem to have no intention of going public. This makes sense, in a way: IPOs have traditionally been a way to raise money, and if you can raise illicit sums without having to subject your company to public scrutiny, why would you?

Databricks proves this point: The data intelligence company just raised over $4 billion in a Series L funding round at a valuation of $134 billion — up 34% from the $100 billion valuation it received It was achieved just three months ago.

This is the third major fundraising for the Databricks Project in less than a year, and comes as the company focuses on building products that meet the needs of the AI ​​revolution: an AI agent database, an AI agent platform, and applications that allow companies to build and publish data and AI applications.

The company is investing heavily in its own database of AI agents, known as Lakebase, which is based on the open source Postgres database (enabled by The acquisition is worth $1 billion From a startup called Neon), it targets dynamic coding projects for enterprise developers. Meanwhile, its AI agent platform, Agent Bricks, aims to help companies build and deploy AI agents that can leverage their data. The company has also concluded huge deals worth hundreds of millions with artificial intelligence labs Anthropic and OpenAI To present its models within the organization’s products.

Series L rounds are not really common, but the fact that Databricks has been able to raise venture funding at ever-increasing valuations (assessed In the amount of 60 billion dollars around this time last year) indicates how strongly investors believe in the power of helping companies use data to support their AI efforts.

In fact, Databricks said Tuesday that it now generates run-rate revenue of more than $4.8 billion, up 55% from the previous year, of which more than $1 billion came from its AI products.

“The parallel rise of biometric cryptography and generative AI is accelerating the development of intelligent data applications in the enterprise. Databricks will use this new capital to help customers build AI applications and agents on their own data, leveraging Lakebase as the system of record, Databricks Apps as the user experience layer, and Agent Bricks to power multi-agent systems,” the company said in a press release.

The Wall Street Journal Reports The company will also use the new funds to add thousands of new jobs in Asia, Europe and Latin America, in addition to bringing in more researchers in the field of artificial intelligence.

“Enterprises are rapidly reimagining how intelligent applications are built, and the convergence of generative AI with new programming paradigms is opening the door to entirely new workloads,” Ali Ghodsi, co-founder and CEO of Databricks, said in a statement.

The round was led by Insight Partners, Fidelity and JP Morgan Asset Management. Andreessen Horowitz, BlackRock, Blackstone, Coato, GIC, MGX, NEA, Ontario Teachers’ Retirement Plan, Robinhood Ventures, and T.J. Rowe Price Associates, Temasek, Thrive Capital and Winslow Capital.