Databricks announced it has surpassed a $4 billion revenue run-rate in Q2, reflecting over 50% year-over-year growth. Its AI products alone have crossed a $1 billion run-rate, underscoring the company’s rapid momentum in enterprise AI adoption. Databricks also reported positive free cash flow over the past 12 months and a net retention rate above 140%, with more than 650 customers generating over $1 million in annual revenue.
The company is closing a $1 billion Series K funding round, co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management. The round values Databricks at over $100 billion.
New capital will accelerate Databricks’ AI strategy, including expansion of Agent Bricks—its enterprise AI agent builder—and Lakebase, a new category of operational databases optimized for AI workloads. The funds will also support global growth, future acquisitions, and continued research.
Databricks has recently deepened partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir, and expanded its footprint with new offices in San Francisco and Sunnyvale. Its Data Intelligence Platform, built on open source, helps organizations unlock value from data through scalable analytics and AI applications.
KEY QUOTES:
“Our teams are putting up these results by building the data and AI infrastructure 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.”
Ali Ghodsi, Co-Founder and CEO of Databricks
