Overview
- Databricks disclosed Thursday that it closed a $5 billion private funding round at a $190 billion valuation and reported it has crossed a $7 billion annualized revenue run rate with more than 80% year‑over‑year growth in Q2.
- The funding round was led by existing backers Coatue, Blackstone, MGX and accounts advised by T. Rowe Price, with new participation from Sixth Street Growth and roughly two dozen other investors.
- Databricks said it will use the capital to expand its enterprise AI stack, including the Lakebase database, the Genie agent and the Unity AI Gateway governance platform, and to continue AI research and targeted acquisitions.
- New and recent product milestones include Lakebase reaching about a $100 million run rate and the Lakehouse data‑warehousing business surpassing roughly a $1.5 billion run rate, which together help explain investor demand.
- This is Databricks’ second $5 billion financing so far in 2026 and the company remains private as it absorbs costly cloud commitments and AI infrastructure needs, a dynamic that lets it scale products while delaying an IPO.