Databricks surpasses $4B revenue run-rate, exceeds $1B AI revenue run-rate

Databricks, the Data and AI company, announced it has crossed a $4B revenue run-rate during Q2, growing greater than 50% year over year. Databricks’ AI products also recently crossed a $1B revenue run-rate. Finally, the company is closing its Series K funding, raising $1B of capital. This investment values the company at over $100B and is co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management. The company says that this new investment comes on the heels of strong momentum for Databricks, which includes surpassing $4B revenue run-rate, growing greater than 50% year over year; recently exceeding $1B revenue run-rate for its AI products; net retention rate sustaining greater than 140%; 650-plus customers consuming at over $1M annual revenue run-rate; and achieving positive free cash flow over the last 12 months. Databricks will use the new capital to accelerate its AI strategy. During the two prior quarters, Databricks notes it launched or expanded partnerships with Microsoft (MSFT), Google Cloud (GOOGL), Anthropic, SAP, and Palantir (PLTR). Additionally, this year the company signed new office leases in San Francisco and Sunnyvale to attract top AI talent.