Databricks raises capital at $134 billion valuation
Databricks CEO Ali Ghodsi speaks on CNBC’s Fast Money on December 17, 2024.
CNBC
Databricks said on Tuesday: raised $4 billion in a funding round that valued the data analytics software company at $134 billion.
The valuation marks a 34% increase over the financing round announced in August, which valued the company at $100 billion. At the time, Databricks became one of a handful of private companies to surpass the $100 billion valuation, joining SpaceX, ByteDance and OpenAI.
Databricks said it plans to use the capital to support customer application development as AI accelerates development.
Tune in at 4:15 PM ET as Databricks CEO Ali Ghodsi joins CNBC TV to discuss the latest funding round and valuation. Watch in real time on CNBC+ or CNBC Pro streaming.
The company said it achieved revenue growth of $4.8 billion in its fiscal third quarter, growing 55% from last year. This figure is also above the $4 billion revenue rate announced at the beginning of this year. Growth accelerated from the previous quarter and there was a noticeable increase in AI revenue, Databricks co-founder and CEO Ali Ghodsi told CNBC in an interview.
The more stable parts of the job also attract attention. More than 1,000 Databricks customers now use the company’s Lakebase database software to quickly note incoming data, Ghodsi said.
Databricks is among a growing number of companies choosing to remain private longer as private markets offer more financing opportunities.
Insight Partners, Fidelity Management & Research Company and JPMorgan Asset Management led the round with participation from Andreessen Horowitz.
Databricks was founded in San Francisco in 2013 and was ranked third on CNBC’s 2025 Disruptor 50 list.
