The data analytics/artificial intelligence (AI) company announced its valuation and $7 billion in new investment on Monday (February 7), including $5 billion in equity financing and approximately $2 billion in additional debt facilities.
Databricks says it will use the new capital to power Lakebase, a serverless Postgres database for AI agents, and Genie, a conversational AI assistant.
“We are seeing overwhelming investor interest in our next chapter as we pursue two new markets,” said Databricks co-founder and CEO Ali Ghodsi.
“With this new funding, we will double down on our use of Lakebase to enable developers to create operational databases built for AI agents. At the same time, we will invest in Genie to enable every employee to chat with their data, driving accurate, actionable insights.”
In addition to the new valuation and funding, Databricks announced several quarterly business milestones, including a revenue run rate of more than $5.4 billion, an increase of more than 65% year over year. The company also achieved a revenue run rate of $1.4 billion for its AI products.
Advertisement: SCROLL TO CONTINUE
The announcement comes nearly two months after it was reported that Databricks was aiming to achieve a $134 billion valuation with new funding. This figure is a 34% increase from the company’s funding round in September. The company was valued at $62 billion in January last year.
The new funding also comes as technology companies become increasingly familiar with AI agents, as a PYMNTS Intelligence study shows. The same study also shows a gap between technology companies and goods/services companies.
PYMNTS wrote last week that tech companies “have greater exposure to AI development, greater engineering talent, and longer investment horizons than most product manufacturing and service companies.” “As a result, both companies have become more knowledgeable about agent AI and are more actively considering its use in real-world operations. Other sectors are also closely monitoring, but regulatory uncertainty, skills gaps, and control concerns have made them move more slowly.”
According to the study, 75% of technology companies say they are very familiar with agent AI, compared to about a third of product manufacturing companies and 38% of service companies.
The data also points to an “exploration gap,” with 42% of technology companies actively exploring ways to integrate agentic AI into their operations. Less than 4% of products companies say they have similar initiatives, and no services companies are considering adding agent AI.
