Databricks Closes $5 Billion Funding Round at $190 Billion Valuation as Revenue Run Rate Tops $7 Billion

Databricks on Thursday closed a $5 billion funding round at a $190 billion valuation, up sharply from the $134 billion valuation it carried after a February round of the same size. The latest round was led by Coatue, which had put forward an initial term sheet at $188 billion, alongside Blackstone, MGX, T. Rowe Price and new investor Sixth Street Growth.

The company said it has crossed a $7 billion annualized revenue run rate, growing more than 80% year over year in its second quarter. Databricks plans to direct the capital toward enterprise AI products including its Unity AI Gateway governance tool, Lakebase and the Genie agentic platform, as it competes with Snowflake, Oracle and others for the enterprise AI stack. CEO and cofounder Ali Ghodsi said the company is very unlikely to pursue an IPO before Anthropic or OpenAI come to market, signaling Databricks remains content to grow as a private company despite its scale.