Databricks Raises $10 Billion, Valuing the AI Company at $62 Billion

The funding round, one of the largest in history, will support employee liquidity, AI product development, and global expansion.

Databricks secured $10 billion in a Series J funding round, led by Thrive Capital, boosting its valuation from $43 billion in 2023 to $62 billion.
The funding enables employee stock liquidity and will also be used for AI product innovation, acquisitions, and international market expansion.
The company reported over 60% year-over-year revenue growth in Q3 2024 and expects to achieve a $3 billion annual revenue run rate by January 2025.
Databricks, founded in 2013, provides data analytics and AI tools to over 10,000 customers, including major corporations like Comcast, Rivian, and Shell.
CEO Ali Ghodsi stated that the company is delaying its IPO until at least 2025, citing market conditions and a desire to provide liquidity to employees.