Databricks has raised US$5 billion at a US$190 billion valuation after its revenue run rate topped US$7 billion.
Coatue led the strategic funding round, joined by Blackstone, MGX, T. Rowe Price and new investor Sixth Street Growth.
Other new investors included BOND, Clearlake Capital, Point72, Premji Invest and TPG, alongside existing backers such as GIC, Temasek, Andreessen Horowitz and Franklin Templeton.
Databricks reported more than 80% year-on-year growth in its second quarter and remained adjusted free cash flow positive over the past 12 months.
Co-founder and CEO Ali Ghodsi said,
“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.
That requires real-time operational data with Lakebase, context from across the business with Genie, and multi-AI cost controls with Unity AI Gateway.”
The company plans to invest further in Lakebase, Genie and Unity AI Gateway as it builds out its enterprise AI offering.
Lakebase, its serverless Postgres database built for AI agents, has surpassed a US$100 million revenue run rate.
Its Lakehouse data warehousing product has crossed a US$1.5 billion revenue run rate and is growing more than 100% year on year.
More than 1,000 customers have crossed a US$1 million revenue run rate with Databricks, including over 100 above US$10 million.
Featured image: Edited by Fintech News Singapore, based on image by dit26978 via Magnific
