Databricks has closed a $5 billion strategic funding round at a $190 billion post-money valuation, its second major raise this year, as the data and AI vendor sprints to lock down the enterprise workload that matters most in 2026: production AI agents. Coatue led the round, with Blackstone, MGX, accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management, and new investor Sixth Street Growth all joining. New backers BOND, Clearlake Capital, Point72, Premji Invest and TPG piled in alongside a long list of returning investors including Andreessen Horowitz, GIC, Insight Partners, NEA, Ontario Teachers' Pension Plan and Thrive Capital.
A $7B Run-Rate And 80% Growth
The San Francisco company said it has surpassed a $7 billion revenue run-rate, growing more than 80% year over year in the second quarter and generating positive adjusted free cash flow over the past 12 months. More than 1,000 customers now consume Databricks at over $1 million a year, and 100-plus are past the $10 million mark. Its Lakehouse warehousing product blew past a $1.5 billion run-rate, doubling year on year, while Lakebase — the serverless Postgres database it launched for AI agents — crossed a $100 million run-rate in its first year.
Genie, Lakebase And The Agent Playbook
CEO Ali Ghodsi framed the round as validation of a three-pillar bet: operational data with Lakebase, contextual answers with Genie, and multi-model routing with Unity AI Gateway. "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," Ghodsi said. Coatue co-founder Thomas Laffont, whose fund has been on the cap table since 2019, said Databricks now looks "more like a research lab than a typical software company" for compressing multi-year R&D timelines into months.
Second Round In Six Months
The valuation is up 42% from the $134 billion mark Databricks set in February, and the round formalises the strategic vehicle it telegraphed in July at a $188 billion valuation. Ghodsi again said an eventual IPO remains on the table but signalled no urgency, echoing his line about avoiding the "distraction" of public markets while the AI infrastructure land grab continues. The company follows NVIDIA's $500 billion Wall Street financing alliance and Anthropic's talks to buy Decart for $6 billion in a fortnight of blockbuster AI-infrastructure deals.
Reporting based on coverage from Databricks, Bloomberg, CNBC and Tech Startups.