Databricks is in the process of closing a fresh round at a $100 billion valuation, sources confirmed to TechCrunch. The round was originally reported by the Wall Street Journal.
A source familiar with the deal tells TechCrunch exclusively that the new round is about $1 billion and was wildly oversubscribed. Databricks, best known for its data analytics products, refrained from selling even more equity because it didn’t need cash for operations after its once record-breaking $10 billion raise at a $62 billion valuation in January, according to the source. (OpenAI has since squashed the record with a $40 billion raise in March.)
The round was co-led by both Thrive and one of Databricks’ early investors, Insight Partners, TechCrunch has learned. These two firms led the last round as well. The company has now raised about $20 billion since it was founded in 2013.
This was a primary round, meaning it didn’t include employees selling their shares. However, sources close to the company say Databricks has already had two secondary rounds for employees in 2025. Those offers allowed employees to sell up to 40%, 50%, or 60% of their shares, depending on the size of their holdings.
In both cases, the source said, the full funds available for the secondary round were not maxed out, meaning employees held on to more shares than they could have sold. While Databricks clearly isn’t in a hurry to IPO, employees have had two recent chances to cash out shares.
This new round, however, was raised to pursue two specific projects — a database for AI agents and its AI agent platform — Databricks co-founder and CEO Ali Ghodsi told TechCrunch in an interview.
The company will invest heavily in its database for AI agents, making it generally available to all customers. It launched the product, known as Lakebase, in June at its annual tech conference. Lakebase, which is based on the open source database Postgres, is enterprise grade and supports corporate developers’ vibe-coding projects. This makes it a competitor to Supabase.
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