Overview

• Databricks said it surpassed a $4 billion revenue run rate in Q2 and is on track to grow annual revenue more than 50% year over year.
• AI products reached $1 billion within that run rate, reflecting accelerating enterprise adoption across its platform.
• The Series K raise totaled $1 billion and was co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital and WCM Investment Management.
• Management plans to deploy the new capital into product expansion, a new operational database category, and future AI acquisitions and research.
• The company reports about 15,000 customers, positive free cash flow over the past 12 months, targets net revenue retention above 140%, and has renewed investor interest ahead of a possible IPO.