Databricks has raised $5 billion in strategic funding at a $190 billion valuation as the Data and AI company continues to report rapid growth across its enterprise AI platform. Coatue led the round, with participation from Blackstone, MGX, accounts advised by T. Rowe Price, and new investor Sixth Street Growth. Other new investors included BOND, Clearlake Capital, Point72, Premji Invest, and TPG, alongside existing investors including Andreessen Horowitz, Dragoneer, Fidelity Management & Research Company, GIC, Goldman Sachs Alternatives, Insight Partners, J.P. Morgan Private Capital, NEA, Ontario Teachers’ Pension Plan, Temasek, Thrive Capital, and WCM Investment Management.
Databricks surpassed a $7 billion revenue run-rate during its second quarter while growing more than 80% year over year. The company also remained adjusted free-cash-flow positive over the trailing 12 months.
The financing will support continued development of Lakebase, Genie, and Unity AI Gateway as Databricks increasingly positions its platform as infrastructure for enterprise AI agents. Lakebase is its serverless Postgres database built for agents, Genie provides enterprise context and answers from business data, and Unity AI Gateway provides governance, routing, and cost controls across AI models.
Lakebase has surpassed a $100 million revenue run-rate, while Databricks’ Lakehouse data warehousing product has exceeded a $1.5 billion run-rate and is growing more than 100% year over year. More than 1,000 customers are consuming Databricks products at annualized rates above $1 million, with more than 100 customers exceeding $10 million.
KEY QUOTES:
“Enterprises don’t just want AI that talks. They want agents working across their business that remember context, deliver accurate answers, and execute work without blowing through their budgets. That requires real-time operational data with Lakebase, context from across the business with Genie, and multi-AI cost controls with Unity AI Gateway. The tremendous investor demand for this round shows that our AI strategy is winning the market and building what every business needs to maximize their impact with agents.”
Ali Ghodsi, Co-Founder and CEO of Databricks
“Databricks has spent a decade being early to where AI was headed. Now it’s the infrastructure the industry builds and scales AI on. What stands out most is the pace: they’ve compressed R&D timelines that used to take years into months, more like a research lab than a typical software company. We’ve been investors since 2019, and results like that are why we’re proud to lead this round today and keep building with them.”
Thomas Laffont, Co-Founder of Coatue
