Databricks completed a $5 billion funding round on August 13, 2026, doubling its valuation to $190 billion [1, 2, 3]. The round was led by Coatue, Blackstone, MGX, T. Rowe Price, and Sixth Street Growth [1, 2, 3]. CEO Ali Ghodsi said investor interest far exceeded expectations, noting $15 billion in demand from a select investor group after news leaked about the fundraise [2].
The company reported passing $7 billion in annualized revenue run rate in the second quarter of 2026, with more than 80% year-over-year growth [1, 2, 3]. Databricks’ core Lakehouse data warehousing product alone generates over $1.5 billion in annual revenue and grows over 100% yearly [1, 2, 3]. Its newer Lakebase database, launched in June 2026 to support AI agents, has surpassed $100 million in annualized revenue [1, 2, 3].
Databricks has also become cash-flow positive and maintained positive adjusted cash flow over the past 12 months [2, 3]. The company delayed its planned IPO, citing strong opportunities for private-market funding [1, 3].
The fresh capital will be invested to scale Databricks’ AI capabilities, including tools like Unity AI Gateway and Genie that support enterprise AI workloads [1, 3]. Ghodsi emphasized the importance of AI agents that can recall context, provide accurate answers, and execute tasks within budget [3].
The funding follows a $5 billion equity round and $2 billion debt raise six months earlier at a $134 billion valuation [1, 3]. Databricks has consistently expanded its suite of AI-driven data analytics offerings, solidifying its market position.
Databricks plans to continue deploying the raised funds this year to accelerate innovation in its enterprise AI platform.
