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Privately held data and AI company Databricks is now worth $100 billion thanks to a new funding round.
Ahead of a potential IPO in 2025 or 2026, the new funding round makes existing investors such as Rep. Nancy Pelosi (D-Calif.), Cathie Wood and NVIDIA Corp (NASDAQ:NVDA) big winners.
What Happened: Databricks is now valued at $100 billion in a new Series K funding round, increasing the company’s value 61% from 2024 valuations.
The new funding will be used for product development and potential M&A activity in the AI space.
Databricks has over 15,000 customers and competes with several companies, including Snowflake (NYSE:SNOW) and Palantir Technologies (NASDAQ:PLTR), in the data analytics and AI data spaces.
Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — and you can too at just $2.90/share.
With the new funding, existing investors from the company’s 2023 and 2024 funding rounds have watched their investments grow nicely.
This includes Ark Invest, which holds shares of the company via the Ark Venture Fund (NASDAQ:ARKVX). The Cathie Wood-led fund invested in Databricks in the September 2023 funding round when the company was valued at $43 billion. This means Ark Invest is up more than double on its investment, depending on whether it has participated in subsequent investment rounds.
Databricks is currently the 21st-largest holding in the Ark Venture Fund at 1.52% of assets. That is based on valuations from July 31, which means the stake has likely increased in value.
Nvidia also took an initial stake in Databricks during the $43 billion valuation round in September 2023.
Former Speaker of the House Nancy Pelosi disclosed an investment in Databricks via Forge Investments on March 4, 2024. The investment, made by her husband and venture capitalist Paul Pelosi, was listed as being in a range of $1 million to $5 million.
The Forge Investments website shows a value of $73.50 per share for Databricks and $43.4 billion valuation for the September 2023 funding round and on the site in 2024, around the time the Pelosis invested.
While it is unknown exactly what valuation the congresswoman and her husband invested in the company at, the stake was likely made near the $43 billion valuation.
Based on the new funding valuation of $100 billion, Databricks is now worth 132.6% more than the $43 billion funding round. This would make the $1 million to $5 million investment now worth $2.326 million to $11.63 million.
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