Databricks in talks to raise capital at above $130 billion valuation

Data analytics firm Databricks is in talks to raise funds at a valuation of more than $130 billion, about 30% higher than its last financing round two months ago.

Databricks has not signed a term sheet with any investment firms, the report added.

In September, the San Francisco-based company closed a $1-billion-funding round that valued it at $100 billion, making it one of the world’s most valuable private companies.

At the time, Databricks said it was on track to hit $4 billion in annualized revenue, driven by booming demand for its artificial intelligence products. The company planned to use the proceeds to accelerate its AI strategy, expand products, launch an operational database category and pursue AI acquisitions and research.

Founded in 2013, Databricks offers a platform that helps users ingest, analyze and build AI applications. The company has long been viewed as a leading candidate to go public and has received numerous investor inquiries.

Databricks has about 15,000 customers, including payments firm Block, energy giant Shell and electric vehicle maker Rivian.