<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2012-08-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001353283</issuerCik>
        <issuerName>SPLUNK INC</issuerName>
        <issuerTradingSymbol>SPLK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001205951</rptOwnerCik>
            <rptOwnerName>STURIALE NICHOLAS G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SEVIN ROSEN FUNDS</rptOwnerStreet1>
            <rptOwnerStreet2>13455 NOEL ROAD, SUITE 1670</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75240</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001026496</rptOwnerCik>
            <rptOwnerName>BAYLESS JON W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SEVIN ROSEN FUNDS</rptOwnerStreet1>
            <rptOwnerStreet2>13455 NOEL ROAD, SUITE 1670</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75240</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001189256</rptOwnerCik>
            <rptOwnerName>DOMENIK STEPHEN L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SEVIN ROSEN FUNDS</rptOwnerStreet1>
            <rptOwnerStreet2>13455 NOEL ROAD, SUITE 1670</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75240</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001033501</rptOwnerCik>
            <rptOwnerName>DOW STEPHEN M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SEVIN ROSEN FUNDS</rptOwnerStreet1>
            <rptOwnerStreet2>13455 NOEL ROAD, SUITE 1670</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75240</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001033563</rptOwnerCik>
            <rptOwnerName>JAGGERS JOHN V</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SEVIN ROSEN FUNDS</rptOwnerStreet1>
            <rptOwnerStreet2>13455 NOEL ROAD, SUITE 1670</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75240</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001189257</rptOwnerCik>
            <rptOwnerName>KIMZEY JACKIE R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>SEVIN ROSEN FUNDS</rptOwnerStreet1>
            <rptOwnerStreet2>13455 NOEL ROAD, SUITE 1670</rptOwnerStreet2>
            <rptOwnerCity>DALLAS,</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75240</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001033560</rptOwnerCik>
            <rptOwnerName>PHIPPS CHARLES H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SEVIN ROSEN FUNDS</rptOwnerStreet1>
            <rptOwnerStreet2>13455 NOEL ROAD, SUITE 1670</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75240</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001066600</rptOwnerCik>
            <rptOwnerName>SCHUELE ALAN R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SEVIN ROSEN FUNDS</rptOwnerStreet1>
            <rptOwnerStreet2>13455 NOEL ROAD, SUITE 1670</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75240</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2012-08-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>508637</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>27.2613</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13977632</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Following the reported transaction, 13,670,097 shares are held directly by Sevin Rosen Fund VIII L.P. (&quot;SRF VIII&quot;), 278,961 shares are held directly by Sevin Rosen VIII Affiliates Fund L.P. (&quot;SRVIII AFF&quot;), and 28,574 shares are held directly by Sevin Rosen Bayless Management Company (&quot;SRBMC&quot;).</footnote>
        <footnote id="F2">Nicholas G. Sturiale (&quot;Sturiale&quot;), Jon W. Bayless (&quot;Bayless&quot;), Stephen M. Dow (&quot;Dow&quot;), Stephen L. Domenik (&quot;Domenik&quot;), John V. Jaggers (&quot;Jaggers&quot;), Jackie R. Kimzey (&quot;Kimzey&quot;), Charles H. Phipps (&quot;Phipps&quot;) and Alan R. Schuele (&quot;Schuele&quot;) are general partners of SRB Associates VIII L.P. (&quot;SRB&quot;), the general partner of SRFVIII and SRVIII AFF, and disclaim beneficial ownership of the shares held by SRFVIII and SRVIII AFF, except to the extent of their pecuniary interest in such shares.  Sturiale, Bayless, Dow, Domenik, Jaggers, Kimzey, Phipps and Schuele are officers and directors of SRBMC and disclaim beneficial ownership of the shares held directly by SRBMC, in which they have no pecuniary interest.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>John V. Jaggers, As  Attorney-In-Fact For Nicholas G. Sturiale</signatureName>
        <signatureDate>2012-08-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>John V. Jaggers, As Attorney-In-Fact For Jon W. Bayless</signatureName>
        <signatureDate>2012-08-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>John V. Jaggers, As Attorney-In-Fact For Stephen L. Domenik</signatureName>
        <signatureDate>2012-08-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>John V. Jaggers, As Attorney-In-Fact For Stephen M. Dow</signatureName>
        <signatureDate>2012-08-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>John V. Jaggers</signatureName>
        <signatureDate>2012-08-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>John V. Jaggers, As Attorney-In-Fact For Jackie R. Kimzey</signatureName>
        <signatureDate>2012-08-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>John V. Jaggers, As Attorney-In-Fact For Charles H. Phipps</signatureName>
        <signatureDate>2012-08-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>John V. Jaggers, As Attorney-In-Fact For Alan R. Schuele</signatureName>
        <signatureDate>2012-08-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
