- Databricks has raised $5 billion at a $190 billion valuation, up from $134 billion six months ago.
- The company has surpassed a $7 billion revenue run rate, growing more than 80% year-over-year in Q2.
- Founded in 2013, Databricks is expanding into AI agents, databases, governance, and enterprise apps.
Databricks has raised $5 billion at a $190 billion valuation, in a round led by Coatue alongside Blackstone, MGX, T. Rowe Price-advised accounts, and new investor Sixth Street Growth.
Beyond the lead investors, the round drew new backers BOND, Clearlake Capital, Point72, Premji Invest and TPG, alongside returning investors Andreessen Horowitz, Dragoneer, Fidelity Management & Research Company, Franklin Templeton, GIC, Goldman Sachs Alternatives, Insight Partners, J.P. Morgan Private Capital, Kinetic, Morgan Stanley Investment Management, NEA, Ontario Teachers’ Pension Plan, Temasek, Thrive Capital and WCM Investment Management.
The San Francisco-based company also disclosed that it has crossed a $7 billion annualised revenue run-rate, with growth of more than 80% year-over-year in its second quarter.
“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,” said Ali Ghodsi, co-founder and chief executive of Databricks.
From $62B to $190B
Databricks’ latest valuation caps a fast run of raises.
The company raised $10 billion at a $62 billion valuation in December 2024, then pushed above $100 billion in 2025. Tech Funding News later reported that Databricks was targeting a valuation of up to $175 billion, before Databricks was valued at around $134 billion in February 2026. In July, TFN‘s coverage of the $188 billion round examined the company’s shift toward enterprise AI governance.
The $190 billion valuation puts Databricks up roughly 42% in six months from its $134 billion mark, a jump that the company says was driven partly by demand it didn’t go looking for.
Ghodsi told TechCrunch that the company had originally planned to raise just $1 billion, until reports of a fundraise in progress triggered a wave of inbound investor interest that pushed the round well past its original size.
The founders behind the AI pivot
Databricks was founded in 2013 by seven academics, including co-founders Ghodsi, Matei Zaharia, Ion Stoica, Patrick Wendell, Reynold Xin, Andy Konwinski, and Arsalan Tavakoli-Shiraji. The company grew out of Apache Spark, the open-source data-processing technology built at the University of California, Berkeley. Ghodsi remains chief executive, while Zaharia is co-founder and chief technologist.
That academic lineage gives Databricks an edge many AI-era rivals lack: deep, decade-long relationships with the enterprises now trying to put their proprietary data to work with AI. The company says more than 20,000 organisations, including adidas, AT&T, Bayer, Block, Mastercard, Rivian, and Unilever, now rely on its platform, along with 70% of the Fortune 500.
Databricks’ closest traditional competitor is Snowflake, which is making its own push into enterprise AI through its Cortex platform. The field is broader than that one rivalry, though Microsoft has Azure AI Foundry, Google has Vertex AI, and AWS offersSageMaker, all of which can bundle AI capabilities into contracts enterprises already hold.
Databricks’ pitch against all of them is flexibility: letting businesses work across different AI models and cloud environments rather than locking into one vendor’s stack. Ghodsi pointed to rising AI computing costs as a tailwind for that pitch, saying that as token expenses climb, customers who once ruled out Chinese AI models are growing more open to them.
Where the $5B is going
The fresh capital will deepen investment in three products: Lakebase, its serverless Postgres database built for AI agents, which has surpassed a $100 million revenue run-rate; Genie, an AI coworker that turns enterprise data into answers and actions; and Unity AI Gateway, which handles multi-AI governance and cost controls.
Databricks’ existing Lakehouse data warehousing business has exceeded $1.5 billion in run-rate, growing more than 100% year over year. The company says more than 1,000 customers now generate over $1 million in annual revenue run-rate, with more than 100 spending above $10 million.
Thomas Laffont, co-founder of Coatue, framed the round as a bet on execution speed rather than just market position.
“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,” he said.
For now, Databricks is choosing to raise at public-market scale while staying private. The bigger question is whether its data and governance layer can stay defensible as Snowflake, Microsoft, Google, and AWS all push further into AI.
