Databricks Raises $5B at $190B Valuation

Databricks has secured $5 billion in new funding at a $190 billion valuation, led by Coatue, Blackstone, MGX, T. Rowe Price and Sixth Street Growth. The raise follows a quarter in which annualized recurring revenue surged over 80% year-over-year to more than $7 billion, with its Lakehouse data warehousing product exceeding $1.5 billion. A portion of the funds will enhance Lakebase, its managed PostgreSQL service, including technology from newly acquired startup Electric DB, which developed AI agent-optimized database tools. Additional investment will go toward improving its Genie AI tools and Unity AI Gateway product. Over 1,000 organizations now spend more than $1 million annually on Databricks software.