TLDR
- Databricks closed a $5 billion funding round at a $190 billion valuation on Thursday
- The valuation is a 42% jump from its $134 billion valuation just six months ago
- Revenue run rate has crossed $7 billion, with over 80% year-over-year growth in Q2
- The round was led by Coatue, Blackstone, MGX, T. Rowe Price and Sixth Street Growth
- Databricks continues to delay its IPO as private market funding remains plentiful
Databricks closed a $5 billion funding round on Thursday at a $190 billion valuation, marking a 42% increase from the $134 billion valuation it carried just six months ago.
Today, we’re pleased to share strong momentum across our business, including crossing $7B in revenue run-rate and achieving >80% year-over-year growth in Q2.
We also shared:
• >$100M revenue run-rate for Lakebase
• >$1.5B revenue run-rate for Lakehouse
• Closed $5B in new… pic.twitter.com/mVfdmR5Wlc— Databricks (@databricks) August 13, 2026
The San Francisco-based company had signaled last month it was raising at a $188 billion valuation, led by Coatue Management. The round closed above that figure.
CEO Ali Ghodsi described current demand as “crazy,” pointing to enterprise appetite for AI agents as the key driver. “Everybody’s using these agents, AI agents, and the whole world is laser focused on agents,” he told CNBC Thursday.
The company crossed $7 billion in annual revenue run rate, with growth of more than 80% year-over-year in its second quarter.
This is Databricks’ second $5 billion round in 2026. In February, it raised the same amount alongside $2 billion in new debt capacity.
Coatue, Blackstone, MGX, T. Rowe Price and Sixth Street Growth led the latest round.
Databricks said the capital will go toward enterprise AI capabilities, including its Unity AI Gateway governance tool and its Genie agentic product.
Lakebase and Lakehouse Hit Revenue Milestones
The company’s Lakebase database product, launched recently, has already crossed a $100 million revenue run rate. It puts Databricks in direct competition with Oracle and SAP.
Its older Lakehouse data warehousing tool has surpassed a $1.5 billion run rate.
Ghodsi highlighted Lakebase, the Genie coworker agent, and the AI Gateway tool as areas of particular strength during the quarter.
In March, Databricks also moved into cybersecurity with the launch of its Lakewatch software, extending its product footprint further.
The company ranked No. 3 on CNBC’s 2026 Disruptor 50 list and has now exceeded public market rival Snowflake in overall market value.
IPO Still On Hold
Databricks remains private despite long being viewed as a likely IPO candidate. The company is among a growing number of late-stage startups choosing to stay private as funding in private markets stays active.
Frontier AI companies Anthropic and OpenAI have both confidentially filed to go public, with potential debuts expected as soon as this year.
Databricks has not announced IPO plans. With a $190 billion valuation and $7 billion revenue run rate, it now sits well above many public technology peers.
The final valuation of $190 billion was confirmed Thursday in a company statement.
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