Databricks Raises Over $4B in Series L at a $134B Valuation
San Francisco, CA — December 16, 2025 — Databricks, the Data and AI company, announced it has raised over $4 billion in a Series L funding round, bringing its valuation to $134 billion.
The announcement comes as the company surpassed a $4.8 billion annualized revenue run-rate in Q3, achieving over 55% year-over-year growth, while maintaining positive free cash flow over the past 12 months.
Key financial highlights include:
- Over $1 billion revenue run-rate from AI products
- Over $1 billion revenue run-rate from Data Warehousing
- Net retention rate exceeding 140%
- More than 700 customers generating over $1 million in annual revenue each
The round was led by Insight Partners, Fidelity Management & Research Company, and J.P. Morgan Asset Management, with participation from Andreessen Horowitz, BlackRock, Blackstone, NEA, Temasek, Ontario Teachers Pension Plan, and Thrive Capital, among others.
The new capital will support Databricks’ efforts to help enterprises build Data Intelligent Applications, leveraging Lakebase, Databricks Apps, and Agent Bricks. The funding is also expected to provide employee liquidity, support future AI acquisitions, and deepen AI research initiatives.
