Databricks is closing a fresh funding round at a $100 billion valuation, sources confirmed to TechCrunch. The company, best known for its data analytics products, is raising about $1 billion in the round, which was heavily oversubscribed.
Despite strong investor demand, Databricks opted not to sell more equity, citing sufficient cash reserves from its earlier $10 billion raise at a $62 billion valuation in January. The new round was co-led by Thrive and Insight Partners, both of whom have backed the company in previous raises.
The funding marks another milestone for Databricks, which has raised about $20 billion since its founding in 2013. Unlike some previous secondary rounds that allowed employees to sell shares, this was a primary round, with funds directed entirely to company growth. Sources noted that employees had already participated in two secondary rounds this year, giving them opportunities to liquidate up to 60% of their holdings, though not all available funds were taken up.
According to CEO Ali Ghodsi, the new capital will be channeled into two key projects, a database for AI agents called Lakebase and an AI agent platform known as Agent Bricks. Lakebase, built on Postgres, is designed for enterprise developers and could challenge established players in the $105 billion database market. Ghodsi highlighted the growing role of AI in creating databases, noting that 80% of new databases today are built by AI agents, a figure he predicts will reach 99% within a year.
Agent Bricks, the second project, is aimed at building AI systems capable of handling routine but essential organizational tasks such as onboarding and HR support. Ghodsi believes this focus offers greater value for global productivity than chasing superintelligence. He added that the funding will also support hiring top AI talent, as competition for skilled professionals intensifies. With these initiatives, Databricks aims to position itself at the forefront of enterprise AI innovation.