Databricks raises $4B at $134B valuation as its AI business heats up

Core Insights - Databricks has successfully raised over $4 billion in a Series L funding round, achieving a valuation of $134 billion, which is a 34% increase from its previous valuation of $100 billion just three months ago [1] - The company is focusing on developing products that cater to the AI revolution, including a database for AI agents, an AI agent platform, and applications for building and deploying data and AI solutions [2] Funding and Valuation - This funding round marks Databricks' third major venture fundraising effort within a year, reflecting strong investor confidence in the company's ability to leverage data for AI applications [4] - The company was valued at $60 billion around the same time last year, indicating significant growth in investor belief regarding its potential [4] Revenue Growth - Databricks reported a run-rate revenue exceeding $4.8 billion, which represents a 55% increase from the previous year, with over $1 billion of that revenue coming from AI products [4] Product Development - The company is heavily investing in its AI agent database, Lakebase, which is based on the open-source Postgres database, and aims to support corporate developers in their projects [3] - Databricks' AI agent platform, Agent Bricks, is designed to assist businesses in building and deploying AI agents that utilize their data [3] Strategic Partnerships - Databricks has secured significant deals worth hundreds of millions with AI labs such as Anthropic and OpenAI to integrate their models into its enterprise products [3] Job Creation and Expansion - The new funding will be utilized to create thousands of new jobs across Asia, Europe, and Latin America, as well as to recruit more AI researchers [6] Investor Participation - The funding round was led by notable firms including Insight Partners, Fidelity, and J.P. Morgan Asset Management, with participation from several other prominent investors [7]