Databricks Raises $5 Bn at $190 Bn Valuation as Revenue Run Rate Tops $7 Bn

Databricks has crossed a $7 billion revenue run-rate after growing more than 80% year-over-year in its second quarter, while closing a $5 billion strategic funding round at a $190 billion valuation.

The round was led by Coatue, with participation from Blackstone, MGX, accounts advised by T. Rowe Price, and new investor Sixth Street Growth. Other new investors include BOND, Clearlake Capital, Point72, Premji Invest and TPG, alongside existing backers.

Databricks said the new capital will support further development of Lakebase, Genie and Unity AI Gateway as enterprises increasingly use AI agents to work with business data and perform tasks.

Lakebase, the company’s serverless Postgres database built for AI agents, has crossed a $100 million revenue run-rate. Databricks said its Lakehouse data warehousing product has also surpassed a $1.5 billion revenue run-rate, growing more than 100% year over year.

The company now has more than 1,000 customers generating over $1 million in annualised revenue each, while more than 100 customers are consuming at over $10 million revenue run-rate.

Databricks also said it has generated positive adjusted free cash flow over the past 12 months.

“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 CEO of Databricks.

Ghodsi said Lakebase provides real-time operational data, Genie provides context from across the business, while Unity AI Gateway offers multi-AI cost controls.

The funding comes as Databricks positions its data platform around the growing use of AI agents inside enterprises. Lakebase provides the database layer, Genie turns business data into answers and actions, and Unity AI Gateway provides governance and controls for using multiple AI models.

“Databricks has spent a decade being early to where AI was headed. Now it's the infrastructure the industry builds and scales AI on,” said Thomas Laffont, Co-Founder of Coatue.

Laffont said the company has shortened R&D timelines from years to months and compared its pace of development with that of a research lab.

Databricks’ latest valuation marks a sharp increase over its previous funding rounds, as investors continue to invest in the infrastructure needed to support enterprise AI adoption.