Databricks Raises $4bn Series L at a $134bn Valuation

Databricks, a leading data and AI platform provider, has raised over $4 billion in a Series L financing, valuing the company at $134 billion. The company reported a $4.8 billion revenue run-rate in Q3, growing more than 55% year-on-year, with over $1 billion each from AI products and data warehousing. The funding will support further development of AI-native applications, multi-agent systems and database infrastructure, while also providing employee liquidity. Databricks continues to demonstrate strong financial discipline with positive free cash flow and net retention above 140%. Databricks is an underlying asset of VenCap 6, VenCap 12, VenCap 13B, VenCap 15, VenCap 16, VenCap 17 and VenCap 18.

Waymo in Talks for Funding Round at a Valuation Exceeding $100bn

Waymo, Alphabet’s autonomous driving subsidiary, is in early-stage discussions to raise $15–20 billion in a funding round that could value the company at over $100 billion. The business operates paid, fully driverless robotaxi services across five US cities and completes more than 250,000 rides per week. Waymo plans to expand into a dozen additional cities in 2026, including London, following regulatory changes in the UK. The company has now driven more than 100 million fully autonomous miles. Waymo is an underlying asset of VenCap 6, VenCap 13B, VenCap 15, VenCap 16, VenCap 17 and VenCap 18.

Notion Employee Share Sale at an $11bn Valuation

Productivity software company Notion has informed employees they may sell shares in a secondary transaction valuing the business at $11 billion. The transaction is expected to total around $300 million and follows the company surpassing $600 million in annual recurring revenue, with roughly half derived from AI products. Notion is cash flow positive and is considering additional financing rounds ahead of a potential IPO. The company continues to expand beyond its core workspace tool into a broader enterprise productivity platform. Notion is an underlying asset of VenCap 6, VenCap 10A, VenCap 13A and VenCap 16.

Lovable Raises $330m at a $6.6bn Valuation

Stockholm-based AI coding startup Lovable has raised $330 million in new funding at a $6.6 billion valuation after more than tripling revenue in six months. The company enables users to build applications and websites using large language models and has reached $200 million in annual recurring revenue. Lovable plans to invest in deeper integrations, enterprise governance features and expanding its platform from prototyping to full production use. The round reflects strong global demand for developer-focused AI tools. Lovable is an underlying asset of VenCap 16.

Qualified to Be Acquired by Salesforce for $1bn–$1.5bn

Qualified, a startup providing AI-driven website sales agents, has agreed to be acquired by Salesforce for an estimated $1–1.5 billion. The company’s AI agent helps businesses engage website visitors, identify buying intent and route qualified leads to sales teams, complementing Salesforce’s existing AI offerings. Founded by former Salesforce executives, Qualified has raised over $160 million since inception. The transaction highlights continued strategic M&A as large software platforms deepen their AI capabilities. Qualified is an underlying asset of VenCap 6, VenCap 10A and VenCap 13A.