Databricks says it's valued at over $100 billion in new funding round

Databricks has reached a significant milestone in the tech industry, announcing that its latest funding round values the company at over $100 billion. This achievement places Databricks among an exclusive group of only four private companies to surpass the $100 billion valuation, joining the ranks of SpaceX, ByteDance, and OpenAI, as reported by CB Insights. CEO Ali Ghodsi shared with CNBC that the funding round is expected to exceed $1 billion. This comes after Databricks was last valued at $62 billion during a $10 billion financing round late last year. In June, company executives projected an impressive $3.7 billion in annualized revenue by July, marking a robust 50% year-over-year growth rate. In comparison, Snowflake, a significant competitor, is anticipated to generate $4.5 billion in revenue for the fiscal year ending in January, reflecting a 25% annual growth rate. Snowflake currently holds a market capitalization of approximately $65 billion. Other notable competitors include major cloud service providers like Amazon and Microsoft, which also partner with Databricks. Ghodsi noted a surge of interest from investors following Figma's impressive IPO, which saw shares more than triple on their debut. He remarked, "My phone was blowing up," indicating a strong demand for tech investments post a recent lull in the IPO market. Although Figma's shares have since dipped from their initial closing price of $115.50 to around $70, they still remain significantly above the $33 IPO price. The newly raised funds will enable Databricks to enhance its product offerings, particularly in relation to artificial intelligence capabilities. Founded in 2013 and headquartered in San Francisco, Databricks was ranked third on CNBC's 2025 Disruptor 50 list and currently employs 8,000 people. Existing investors such as Andreessen Horowitz, Insight Partners, Thrive Capital, and WCM Investment Management are actively participating in this funding round.