Databricks has just entered an exclusive club.

The data analytics software vendor said Tuesday that it's raising a funding round that values the company at over $100 billion. That would make Databricks just the fourth private company to eclipse the $100 billion mark, following SpaceX, ByteDance and OpenAI, according to data from CB Insights .

Databricks CEO Ali Ghodsi told CNBC's Brian Sullivan that the total round will exceed $1 billion. The company was last valued by private investors at $62 billion in a $10 billion financing round late last year.

In June, Databricks executives told investors the company was forecasting $3.7 billion in annualized revenue by July, with 50% year-over-year growth.

Snowflake , one of Databricks' top rivals, is expected to generate $4.5 bi

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