Databricks grows >65% YoY, doubles down on Lakebase and Genie

Data and AI company, Databricks has crossed a $5.4 billion revenue run-rate, delivering >65% year-over-year growth during its Q4. Building on this momentum, Databricks is completing investments in the company in excess of $7 billion, including ~$5B of equity financing at a $134 billion valuation and ~$2B of additional debt capacity. With this new funding, the company will accelerate Lakebase, its serverless Postgres database built for AI agents, and Genie, its conversational AI assistant that lets any employee chat with their data.

This financing drew strong participation from both new and returning investors. JPMorganChase expanded its investment in the company through its Security and Resiliency Initiative’s newly-formed Strategic Investment Group. In addition to previously disclosed participants in the Series L round, the additional close also included Glade Brook Capital, Growth Equity at Goldman Sachs Alternatives, Microsoft, Morgan Stanley, funds affiliated with Neuberger, Qatar Investment Authority (QIA), funds associated with UBS, and others. The credit facilities were led by JPMorgan Chase Bank, N.A. alongside Barclays, Citi, Goldman Sachs, and Morgan Stanley, with participation from other leading financial institutions and alternative asset managers.

Financial momentum

This investment follows continued strong momentum across Databricks’ business in Q4:

· Surpassing $5.4 billion revenue run-rate, growing >65% year-over-year.

· Delivering positive free cash flow over the last 12 months.

· Crossing $1.4 billion revenue run-rate for its AI products.

· Sustaining net retention rate >140%.

· >800 customers consuming at over $1 million annual revenue run-rate.

· >70 customers consuming at over $10 million annual revenue run-rate.

“We are seeing overwhelming investor interest in our next chapter as we go after two new markets,” said Ali Ghodsi, co-founder, and CEO of Databricks. “With this new capital, we will double down on Lakebase so developers can create operational databases built for AI agents. At the same time, we are investing in Genie to let every employee chat with their data, driving accurate and actionable insights.”

Building the future of Data + AI

The company will use the funding to advance Lakebase, a serverless Postgres database built for the age of AI that helps customers build data and AI applications faster on a unified platform. Databricks will also scale investments in Genie, its conversational AI assistant, expanding natural‑language capabilities that make data and AI accessible to every corner of the business. The company also expects to use the funds to advance AI research, pursue strategic acquisitions and provide employee liquidity.