Overview

• The round was co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital and WCM Investment Management.
• AI offerings reached a $1 billion revenue run rate in the second quarter, contributing to growth of more than 50% year over year.
• Databricks plans to expand its Agent Bricks product, launch Lakebase operational databases tailored for AI agents, and pursue AI-focused acquisitions and research.
• The company cites targets including net revenue retention above 140%, more than 650 customers spending over $1 million annually, and positive free cash flow over the past 12 months.
• It serves around 15,000 customers, including Shell and Rivian, and is viewed by market observers as a leading IPO candidate following increased investor inquiries.