Databricks raises $5 billion in latest funding round

Databricks’s growth charge isn’t showing signs of slowing down. The cloud-based data and AI platform has completed a $5 billion fundraising round, bringing its valuation to $134 billion (including around $2 billion of additional debt capacity).

Databricks has also reached a $5.4 billion revenue run rate, with over 65% YoY growth in Q4. AI is one of the biggest drivers of this growth, according to Databricks, which said its AI products generate $1.4 billion in annualized revenue.

“This company is just an innovation factory,” Databricks CRO Ron Gabrisko told Revenue Brew last fall about the startup’s rapid success. Much of the recent innovation can be found in the form of Lakebase (an operational database for AI agents and apps launched in June) and conversational AI assistant Genie (which became generally available at the same time).

Charging forward: Since launching in 2013, Databricks has been on an impressive growth trajectory, led by CEO and co-founder Ali Ghodsi. It’s one that could reignite IPO talk (though Ghodsi poured cold water on this in an interview with TechCrunch this week). It’s not the only potential future SaaS stock listing to keep an eye on: The likes of HR and payroll platform Deel and graphic design platform Canva also get their fair share of buzz in that department.

Capital gains: Databricks raised considerable cash in 2025; the company raised over $4 billion as part of a Series L, which began in December 2025 and closed in early February 2026. This followed a Series K in September where the company generated $1 billion and surpassed a $4 billion run rate.

Gabrisko told us last year’s funding was going towards innovation, including the company’s Agent Bricks platform, launched in June. In September, the company also launched a high-profile $100 million partnership with OpenAI to bring OpenAI models natively to customers on the Databricks Data Intelligence Platform.

Correction 02/11/2026: This story has been updated to reflect the correct timeline of Databricks' Series L.