Databricks has closed a $5 billion funding round at a $190 billion valuation, marking a significant increase from the $134 billion valuation it reached just six months ago. The company said Thursday that its revenue run rate surpassed $7 billion in the second quarter, with revenue growing more than 80% year over year.
Funding To Accelerate Enterprise AI
Databricks plans to use the new capital to expand its enterprise AI capabilities, including its Unity AI Gateway governance platform and Genie agentic tools.
Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram
Founded in 2013, Databricks helps businesses build AI applications and agents using their proprietary data. The latest round comes after the company raised $5 billion and secured $2 billion in additional debt capacity earlier this year.
Expanding Beyond Data Analytics
The company has been moving beyond its core data platform into several new areas. Its recently launched Lakebase database, which competes with companies such as Oracle and SAP, has already surpassed a $100 million revenue run rate, according to Databricks.
Meanwhile, its Lakehouse data warehousing business has exceeded a $1.5 billion run rate, while Lakewatch marked the company’s entry into cybersecurity earlier this year.
Databricks ranked No. 3 on CNBC’s 2026 Disruptor 50 list and has grown into a major private-market competitor to Snowflake.
Private Markets Keep IPO Pressure Low
Large private funding rounds are allowing companies such as Databricks to delay going public. Meanwhile, Anthropic and OpenAI are preparing for potential IPOs, highlighting the growing competition for investor capital across private and public AI companies.
The latest Databricks round was led by Coatue, Blackstone, MGX, T. Rowe Price and Sixth Street Growth.
