Overview

• The Series K financing was co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital and WCM Investment Management, according to the company.
• Databricks reported a revenue run rate of roughly $4 billion in Q2, up more than 50% year over year, with AI products reaching a $1 billion run rate.
• New capital will accelerate Agent Bricks for building production AI agents and launch Lakebase operational databases, with plans for AI acquisitions and expanded research.
• The company cited around 15,000 customers, including Shell and Rivian, and highlighted positive free cash flow over the past 12 months, a target net revenue retention above 140%, and more than 650 customers spending over $1 million annually.
• CEO Ali Ghodsi said Databricks remains in no rush to go public despite being viewed as a top IPO candidate, while emphasizing data governance and privacy—addressed through Unity Catalog—as key constraints on enterprise AI adoption.