Databricks is finalizing a new funding round with a $100 billion valuation, insiders told TechCrunch. The Wall Street Journal initially reported the round.
A source familiar with the deal revealed to TechCrunch that the new round is approximately $1 billion and was heavily oversubscribed. Databricks, known for its data analytics products, didn’t need more cash after its previous $10 billion raise at a $62 billion valuation in January, said the source. OpenAI later surpassed this record with a $40 billion raise in March.
The round was co-led by Thrive and Insight Partners, a previous investor, according to TechCrunch. These firms led the last round as well. Since its 2013 inception, Databricks has raised about $20 billion.
This was a primary round, meaning no employee shares were sold. However, sources said Databricks had two secondary rounds for employees in 2025, allowing them to sell up to 60% of their shares based on their holdings. Not all funds for the secondary round were used, indicating employees retained more shares.
The new round aims to support two projects — a database for AI agents and its AI agent platform — CEO Ali Ghodsi told TechCrunch. The company will invest substantially in the AI agents’ database, Lakebase, making it available for all customers. Launched in June at Databricks’ tech conference, Lakebase is an enterprise-grade product based on the Postgres database and supports corporate developers’ vibe coding, competing with Supabase.
“The database market represents $105 billion of revenue, relatively unchanged over 40 years,” Ghodsi told TechCrunch, acknowledging Oracle’s longstanding market dominance. TAM refers to the total addressable market.
“Here’s an interesting statistic: a year ago, 30% of databases were AI-created. This year, it’s 80%,” he said, predicting 99% of new databases to be AI-created within a year. “There’s a new user. It’s an AI agent. Making that user successful can disrupt the TAM.”
Lakebase stands out from competitors like Supabase because of “separated compute and storage,” according to Ghodsi. By decoupling costly compute from cheaper storage, Databricks can allow users to create numerous databases affordably, which AI agents can quickly generate without financial strain.
Databricks plans heavy investment in Agent Bricks, its AI agent platform launched in June. “Everyone’s focused on super intelligence,” Ghodsi said, “but organizations need agents for tasks like employee onboarding or handling HR queries.” He sees this focus as a significant worldwide GDP and organizational opportunity, giving Agent Bricks a competitive edge.
Additional funding will also help Databricks participate in AI talent acquisition. “Hiring AI talent is costly,” Ghodsi smiled.