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Databricks closes $5 billion round at $190 billion valuation
The funding will support AI agent tools including Lakebase, Genie, and a cost-control platform, as the firm reports $7 billion in annualized revenue run rate.
Databricks has closed a $5 billion funding round valuing the company at $190 billion, with proceeds set aside for products aimed at helping businesses build and manage AI agents, according to Yahoo Finance.
The round was led by Coatue and included investors such as Blackstone, MGX, and accounts advised by T. Rowe Price, plus new investor Sixth Street Growth. Other new investors named include BOND, Clearlake Capital, Point72, Premji Invest, and TPG, while existing backers included Andreessen Horowitz, Dragoneer, Goldman Sachs Alternatives, and Thrive Capital, among others.
The company said it crossed a $7 billion annualized revenue run rate in its second quarter, while maintaining positive cash flow on an adjusted basis for each of the past 12 months. It also reported that more than 1,000 customers are consuming at over $1 million in annualized revenue, and more than 100 are consuming at over $10 million.
Databricks said it will direct the new funding toward three products, Lakebase, Genie, and Unity AI Gateway, including details that Lakebase has crossed a $100 million revenue run-rate threshold and that Lakehouse has climbed past $1.5 billion in annualized revenue, with year-over-year growth exceeding 100%. In comments carried by Yahoo Finance and CNBC, CEO Ali Ghodsi pointed to demand from businesses deploying AI agents and said rising AI computing costs are increasing interest in Databricks cost-control tools and open-source model options.