This follows the data and AI company’s Series K funding close, where it raised $1 billion at a valuation exceeding $100 billion, co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital and WCM Investment Management. The company plans to use the proceeds to accelerate its AI strategy, including expanding products, launching a new operational database category, and future AI acquisitions and research. Databricks is targeting a net revenue retention above 140%, more than 650 customers with more than $1 million in annual spending and positive free cash flow over the past 12 months, the company said.