Databricks said on 13 August 2026 that it had closed a $5bn strategic funding round at a $190bn valuation. Coatue led the round, joined by Blackstone, MGX, accounts advised by T. Rowe Price and new investor Sixth Street Growth.
The San Francisco company had announced on 16 July that it had signed a term sheet led by Coatue at a $188bn valuation, without giving the size of the round. It expected the deal to close later in the summer.
According to Reuters, the round valued Databricks well above the roughly $134bn of its previous round about six months earlier. The company announced the funding together with new revenue figures.
“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.”Ali Ghodsi, Co-founder and CEO, Databricks
What Databricks does
Databricks, founded in 2013, sells a platform for storing, managing and analysing data and for building AI applications and agents. It says more than 20,000 organisations use it, including adidas, AT&T, Bayer, Block, Mastercard, Rivian and Unilever, as well as 70% of the Fortune 500. Reuters named Snowflake as a competitor.
The company said it passed a $7bn revenue run-rate in its second quarter, growing more than 80% year on year, and had positive adjusted free cash flow over the previous 12 months. Lakehouse, its data warehousing product, passed a $1.5bn run-rate and grew more than 100%, while Lakebase, its serverless Postgres database for AI agents, passed $100m. More than 1,000 customers were spending at a run-rate above $1m, and more than 100 above $10m.
Who invested
Besides the named backers, new investors BOND, Clearlake Capital, Point72, Premji Invest and TPG joined. Existing investors included 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 National described MGX, the Abu Dhabi technology investor, as a co-lead. Databricks' own announcement named Coatue as the lead, and Coatue co-founder Thomas Laffont said the firm had invested in Databricks since 2019.
Chief executive Ali Ghodsi told TechCrunch that the company had wanted to raise $1bn, but that interest grew after The Information reported on the fundraise in June, reaching about $15bn from the investors it considered. Databricks settled on $5bn.
What the money is for
Databricks said the money would go into three products: Lakebase, Genie, an AI assistant that answers questions from company data, and Unity AI Gateway, which helps companies govern several AI models and control their cost. In July it said the funding would also support AI acquisitions and research.
TechCrunch reported that Databricks had made several acquisitions in 2026, including Electric, the maker of PGlite, in the week of the announcement and the AI security company Panther in June. Ghodsi told the publication that AI research was expensive.
The funding so far
In December 2025 Databricks announced that it was raising more than $4bn in a Series L round at a $134bn valuation, led by Insight Partners, Fidelity Management & Research Company and J.P. Morgan Asset Management. TechCrunch reported that the company had raised about $20bn over the 20 months before the new round.
Reuters described Databricks as a likely candidate for a future stock market listing. The Next Web reported that Ghodsi had called 2026 a bad year to go public, with SpaceX, OpenAI and Anthropic expected to draw large amounts of IPO capital.
Company website: databricks.com