Databricks is raising $4 billion in a funding round that would value the data analytics software company at $134 billion, the company announced Tuesday.

The valuation is a 34% jump from the funding round announced in August, which valued the company at $100 billion. At the time, Databricks became one of a handful of private companies to surpass a $100 billion valuation, after SpaceX, ByteDance and OpenAI.

Databricks said it plans to use the capital to support customer app building as artificial intelligence accelerates development.

The company said it topped a $4.8 billion revenue run-rate during the third quarter and is growing 55% year-over-year. That figure is also up from the $4 billion revenue run-rate announced earlier this year.

Databricks is among a growing list of companies that have opted to stay private for longer as private markets offer more funding opportunities.

Insight Partners, Fidelity Management & Research Company and JPMorgan Asset Management led the round, with participation from Andreessen Horowitz.

Databricks was founded in 2013 in San Francisco and ranked third on CNBC’s 2025 Disruptor 50 list.