Just nine months after raising a massive $10 billion in financing plus $5 billion in debt this past January, Databricks has confirmed another $1 billion raise. This new funding round values the company at $100 billion.
When rumors of this raise first broke last month, Databricks CEO Ali Ghodsi stated that the company will use the funds to invest in a new database product designed for AI agents. This product will compete with Supabase. Ghodsi explained the reasoning behind this strategic move, noting that a year ago the data showed 30% of databases were not created by humans but by AI agents. He revealed that this statistic has now jumped to 80% this year.
The funding round was co-led by Thrive and Insight Partners, one of Databricks’ early investors. These same two firms also co-led the previous $10 billion round. Ghodsi counts Thrive’s founder, Jared Kushner, as a personal friend.
Insight Partners Managing Director John Wolff stated that the firm has seen first-hand how Databricks achieved its impressive growth, marching to $4 billion in annual recurring revenue. Wolff also noted that many of Insight’s own portfolio companies have adopted the Databricks platform.