Overview

• The company signed a term sheet for the late-stage round and CEO Ali Ghodsi said the total raise will exceed $1 billion.
• Thrive Capital and Insight Partners are co-leading the investment, with existing backers including Andreessen Horowitz and WCM Investment Management participating.
• Databricks plans to direct the capital to its Lakebase AI database and Agent Bricks platform, with additional spending on AI acquisitions and global expansion.
• Executives projected roughly $3.7 billion in annualized revenue by July with about 50% year-over-year growth, outpacing Snowflake’s roughly 25–26% growth rate.
• The company described the round as oversubscribed and, after two employee secondary programs earlier this year, is signaling no urgency to pursue an IPO.