Databricks, the Data and AI company, today announced it has signed a term sheet for its Series K round, which it expects to close soon with backing from existing investors. This funding values the company at >$100 billion.

Databricks is the Data and AI company. More than 15,000 organizations worldwide - including Block, Comcast, Condé Nast, Rivian, Shell and over 60% of the Fortune 500 - rely on the Databricks Data Intelligence Platform to take control of their data and put it to work with AI. Databricks is headquartered in San Francisco, with offices around the globe and was founded by the original creators of Lakehouse, Apache Spark™, Delta Lake, MLflow, and Unity Catalog.