Data analytics firm Databricks raised a total of $5 billion via equity financing, giving it a valuation of $134 billion, as per an announcement on Monday.
The firm kicks off its financing after a year of substantial fundraising and the exit of AI VP Naveen Rao, who left to co-found Unconventional.
Databricks is also adding an additional $2 billion in debt capacity.
“We’re seeing overwhelming investor interest in our next chapter as we go after two new markets,” said CEO Ali Ghodsi.
“With this new capital, we’ll double down on Lakebase so developers can create operational databases built for AI agents. At the same time, we’re investing in Genie to let every employee chat with their data, driving accurate and actionable insights.”
The money raised will be used to power two of its AI services—Lakebase and Genie, which are an AI database and a conversational AI assistant.
Similar to multiple hyperscalers, Databricks uses ARR to track growth, which is the annual revenue run rate.
Databricks was a data analytics company founded in 2013, and is known for its ability handle large amounts of enterprise-level data.
“Databricks is a generational company that has become a backbone for enterprise data and AI, helping organizations across critical sectors seize opportunities and overcome challenges,” said Todd Combs, head of one of JPMorgan’s key strategic investment units.
“This initial investment reflects the strength of Databricks’ secure platform and continues to support their innovative, production‑scale applications that serve customers around the world.”