Databricks has signed a term sheet for its Series K funding round, which is expected to close soon at a valuation topping $100 billion. The investment, backed by existing shareholders, will provide capital for the company’s next phase of growth. Databricks said the funds will support several priorities, including expanding its Agent Bricks platform, advancing Lakebase—a new operational database built on Postgres and optimized for AI agents—and fueling international expansion, acquisitions, and research. Both products were introduced at the company’s Data + AI Summit in June and are central to its strategy of embedding AI into everyday enterprise functions.
CEO Ali Ghodsi said investor interest reflects the momentum behind the company’s AI tools, which are used by more than 15,000 organizations worldwide. Databricks has recently announced or expanded partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir, underscoring its push to integrate with leading technology providers. Founded in San Francisco by the creators of Lakehouse, Apache Spark™, Delta Lake, MLflow, and Unity Catalog, Databricks has built its platform on open-source foundations to help enterprises turn data into applications and AI agents.