DATABRICKS VALUATION RISES TO $190BN IN $5BN FUNDING ROUND

Databricks, a San Francisco-based data and AI company, has closed a $5bn funding round at a valuation of $190bn, up from $134bn six months earlier. The round was led by Coatue, with participation from Blackstone and MGX. New investors included Sixth Street Growth, BOND, Clearlake Capital, Point72, Premji Invest and TPG, alongside existing backers Andreessen Horowitz, Dragoneer, Fidelity Management & Research Company and Thrive Capital. The company intends to use the funds to develop Lakebase, its database warehousing product; Genie, described as an "AI coworker"; and Unity AI Gateway, a multi-AI governance and cost control system.

Ali Ghodsi, co-founder and CEO, stated that enterprises require AI agents that operate across their business with context retention and accurate responses whilst managing budgets effectively. According to Databricks, the company has achieved 80 per cent year-on-year growth and surpassed a $7bn revenue run-rate. The company works with over 20,000 organisations and 70 per cent of the Fortune 500, including Adidas, AT&T, Bayer, Block, Mastercard and Unilever. Databricks was founded in 2013 and maintains over 30 offices globally.

Thomas Laffont, co-founder of Coatue, described Databricks as infrastructure the industry uses to build and scale AI, noting the company's ability to compress research and development timelines from years to months. This funding round follows a previous $5bn raise in February 2026. One account noted that late-stage startups sometimes issue more shares than preferred when raising capital to avoid offending existing venture capital investors.