Databricks, a San Francisco-based data analytics software company, is finalizing a Series K funding round that values the company at approximately $100 billion, representing a 61% increase from its $62 billion valuation in December 2024. The funding round, which is oversubscribed and expected to raise around $1 billion, is co-led by Thrive Capital and Insight Partners, with participation from Andreessen Horowitz. CEO Ali Ghodsi highlighted that the new capital will be used to accelerate Databricks' AI growth strategy, including scaling Lakebase, a Postgres-based AI database designed for AI agents, and expanding its Lakehouse data warehouse platform. The company reported annualized revenue of $3.7 billion with 50% growth and has been cash flow positive since January 2025. Databricks is positioned as a competitor to Snowflake and is benefiting from strong global demand for AI applications. The funding round is one of the largest late-stage financings in the AI sector this year.