Databricks, a data and AI company, announced that its annualized revenue run rate exceeded $4.8 billion for the third quarter of fiscal 2025, representing 55% year-over-year growth. It also reported positive free cash flow over the past 12 months, and is currently raising $4 billion in Series L funding, valued at $134 billion (approximately 190 trillion won).

Databricks has surpassed $1 billion in annualized revenue for both its data warehousing business and its AI products. Notably, Lakebase secured thousands of customers within six months of its launch, growing twice as fast as existing data warehousing products. Currently, over 700 customers spend over $1 million in annualized revenue, and the company maintains a net retention rate of over 140%.

This investment round was led by Insight Partners, Fidelity Management, and JP Morgan Asset Management, with participation from global investors including Andreessen Horowitz, BlackRock, Blackstone, Cotu, GIC, and Temasek. This supports Databricks' strong financial performance and vision of connecting AI innovation to real enterprise outcomes.

Databricks plans to use this investment to focus on developing core products, including Lakebase, a system of record; Databricks Apps, a user experience layer; and Agent Bricks, which powers multi-agent systems. These products will enable customers to build AI applications and agents based on their own data.

“Enterprises are rapidly redefining how they build intelligent applications, and the combination of generative AI and new coding paradigms is enabling entirely new workloads,” said Ali Ghodsi, co-founder and CEO of Databricks. “This investment further solidifies our commitment to empowering every organization to realize AI innovation powered by their data.”