Databricks said Thursday it has closed a $5 billion funding round at a $190 billion valuation, nearly doubling its valuation from six months ago as the private data analytics software maker continues to ride surging demand for enterprise AI tools.
The company also disclosed that it has crossed a $7 billion revenue run rate, with second-quarter revenue growing more than 80% year-over-year, according to a statement. Databricks said it will use the fresh capital to bolster its enterprise AI capabilities, including its Unity AI Gateway governance tool and the Genie agentic offering.
The funding round comes just six months after Databricks raised $5 billion in funding and secured $2 billion in new debt capacity at a $134 billion valuation. The latest round marks a significant step-up in investor confidence in the company, which has already surpassed public-market rival Snowflake in market value.
Leading the round were Coatue, Blackstone, MGX, T. Rowe Price and Sixth Street Growth.
Delayed IPO trend continues
Databricks is among a growing cohort of private companies that have chosen to stay private longer, tapping deep private capital markets instead of pursuing an initial public offering. The company’s decision to raise again comes as the IPO window shows signs of reopening, with SpaceX’s blockbuster debut setting the stage for a potentially active year for listings, though shares of SpaceX have been volatile since their launch. Frontier model makers Anthropic and OpenAI have both confidentially filed to go public, with potential debuts possible as soon as this year.
Founded in 2013, Databricks helps companies build AI agents and applications using their proprietary data. The company ranked No. 3 on CNBC’s 2026 Disruptor 50 list.
Expanding beyond data warehousing
Databricks has been aggressively expanding its product portfolio. Its recent Lakebase database launch puts it in direct competition with incumbents like Oracle and SAP, and the company said Lakebase has already surpassed a $100 million revenue run rate. Meanwhile, its Lakehouse data warehousing tool has crossed a $1.5 billion run rate.
In March, Databricks also entered the cybersecurity arena with its Lakewatch software.
The company’s rapid growth and expanding product lines have made it one of the most closely watched private companies in tech, with investors betting that its AI-fueled momentum can sustain what has become a rapid climb in valuation.
Source: www.cnbc.com — https://www.cnbc.com/2026/08/13/databricks-funding-round-190-billion-valuation.html
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