Databricks is finalizing a $1 billion funding round that values the company at $100 billion, sources confirmed to TechCrunch. The deal, first reported by The Wall Street Journal, was oversubscribed but capped as the company said it didn’t need extra cash for operations following its record-breaking $10 billion raise at a $62 billion valuation in January.
The round was co-led by Thrive Capital and longtime backer Insight Partners, who also spearheaded the previous raise. Founded in 2013, Databricks has now secured nearly $20 billion in total funding.
Unlike previous secondary sales that let employees offload up to 60% of their shares, this was a primary round focused entirely on fueling growth. CEO Ali Ghodsi said the funding will accelerate two flagship projects: Lakebase, a Postgres-based database designed for AI agents, and Agent Bricks, a platform for enterprise-ready AI assistants.
Ghodsi pointed to a major market shift, noting that 80% of new databases today are created by AI agents, up from 30% just a year ago. “There’s a new user,” he said. “The user is not human. It’s an AI agent.”
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Lakebase aims to compete with rivals like Supabase by separating compute from storage, making it cheaper for AI agents to spin up databases at scale. Meanwhile, Agent Bricks targets real-world business needs, from onboarding staff to handling HR queries, instead of chasing artificial superintelligence.
“The database market is a $105 billion opportunity that hasn’t really changed in decades,” Ghodsi said. “This is our wedge to disrupt it.”
Databricks will also use the cash to compete in the high-stakes battle for AI talent.
