Databricks is closing a fresh funding round estimated at $1 billion, elevating its valuation to $100 billion. This round is co-led by Thrive and Insight Partners. The company has raised about $20 billion since its establishment in 2013 but is not in need of operational cash following its previous $10 billion raise. The funds will be allocated to two projects focused on AI agents, one of which is the new Lakebase product. Employeess have had opportunities to sell shares, but Databricks is not rushing towards an IPO.
Databricks is closing a new funding round at a $100 billion valuation, raising about $1 billion. The oversubscribed round was co-led by Thrive and Insight Partners.
The funding round aims to support two specific projects related to AI agents, highlighting Databricks' commitment to advancing its technology and product offerings.
Since its founding in 2013, Databricks has raised approximately $20 billion, but it is not rushing towards an IPO despite providing employees opportunities to cash out shares.
The new product, Lakebase, is designed for AI agents and will be available for all customers, indicating Databricks' strategic investment in AI capabilities.
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