Databricks Raises $4 Billion at $134 Billion Valuation as Revenue Hits $4.8 Billion Run Rate
Summary
Databricks secures massive $4 billion funding round at $134 billion valuation, reporting explosive 55% growth to reach $4.8 billion revenue run rate that nearly matches rival Snowflake's performance.
Key Points
- Databricks raises $4 billion in Series L funding round led by Insights Partners, Fidelity and JP Morgan, achieving a $134 billion valuation
- The company reports a $4.8 billion annual revenue run rate with over 55% third quarter growth, nearly matching Snowflake's $4.84 billion run rate
- Both Databricks' data warehousing business and AI products each surpass $1 billion in annual revenue run rate, with over 700 customers generating $1+ million annually