Databricks has raised $4 billion in a Series L funding round, valuing the data intelligence company at $134 billion—marking a 34% increase from its $100 billion valuation just three months prior. This latest round, the third major fundraise in under a year, underscores strong investor confidence in the company’s role at the heart of the AI revolution, even as the IPO market remains uncertain. Databricks, which was valued at $60 billion around this time last year, continues to grow rapidly, now reporting more than $4.8 billion in run-rate annual revenue—up 55% year-over-year—with over $1 billion coming from its AI-focused products. The company is channeling the new capital into expanding its AI product suite, including its database for AI agents called Lakebase, built on the open-source Postgres platform and powered by the $1 billion acquisition of Neon. Lakebase is designed to serve as a foundational system of record for enterprise developers working on “vibe coding” projects—where AI assists in writing code through natural language prompts. The company is also advancing its Agent Bricks platform, which enables businesses to build, manage, and deploy AI agents that can access and act on internal data. Databricks has also secured major partnerships with leading AI labs, including Anthropic and OpenAI, integrating their models into its enterprise offerings. The investment comes as enterprises increasingly seek to build intelligent applications powered by generative AI and new development paradigms. “The parallel rise of vibe coding and generative AI is accelerating the development of data-intelligent applications in the enterprise,” said Databricks co-founder and CEO Ali Ghodsi. “Databricks will use this new capital to help customers build AI apps and agents on their proprietary data, leveraging Lakebase as the system of record, Databricks Apps as the user experience layer, and Agent Bricks to power multi-agent systems.” The round was led by Insight Partners, Fidelity, and J.P. Morgan Asset Management, with participation from a broad coalition of top-tier investors including Andreessen Horowitz, BlackRock, Blackstone, Coatue, GIC, MGX, NEA, Ontario Teachers Pension Plan, Robinhood Ventures, T. Rowe Price Associates, Temasek, Thrive Capital, and Winslow Capital. Databricks plans to use the funds to expand its global workforce, adding thousands of new jobs across Asia, Europe, and Latin America, and to hire more AI researchers to strengthen its technical edge. The company’s ability to attract massive funding without going public highlights a growing trend: for high-growth tech firms, private capital is increasingly sufficient to fuel expansion, innovation, and market dominance—without the scrutiny and constraints of being a public company.