Databricks has raised over $4 billion in a Series L funding round, elevating its valuation to a staggering $134 billion—up 34% in just three months. This significant funding underscores the trend amongst startups to avoid IPOs while capitalizing on private investments. Databricks is at the forefront of the AI revolution, focusing on innovative products like Lakebase—a database for AI agents built on Postgres—and its Agent Bricks platform for developing AI applications. With run-rate revenue surpassing $4.8 billion, a 55% increase year-over-year, Databricks is rapidly evolving its technology to empower businesses. The company’s efforts are bolstered by major partnerships with AI labs such as Anthropic and OpenAI. This new influx of capital will also enable Databricks to expand its workforce globally, signaling a robust confidence from investors in the potential of data and AI integration across enterprises. The funding round attracted numerous prestigious investors, indicating strong market interest.
Source link
