The data and AI company’s valuation has jumped from $134bn to $190bn in just six months.

San Francisco’s Databricks has closed a $5bn strategic funding round led by Coatue at a $190bn valuation. The company said the fresh funds will drive continued innovation across Lakebase, its database warehousing product; Genie, its “AI coworker”; and its Unity AI Gateway for multi-AI governance and cost controls.

Blackstone and MGX joined Coatue in this round; new participants included Sixth Street Growth, Bond, Clearlake Capital, Point72, Premji Invest and TPG, joining existing investors like Andreessen Horowitz, Dragoneer, Fidelity Management & Research Company and Thrive Capital.

“Enterprises don’t just want AI that talks,” said Ali Ghodsi, co-founder and CEO of Databricks. “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 tremendous investor demand for this round shows that our AI strategy is winning the market and building what every business needs to maximise their impact with agents.”

Databricks said financial momentum has been strong, with an 80pc increase year-on-year in its growth seeing it surpass a $7bn revenue run-rate. The funding round comes just six months after a previous raise of $5bn in February that valued the company at $134bn.

“Databricks has spent a decade being early to where AI was headed,” said Thomas Laffont, co-founder of Coatue. “Now it’s the infrastructure the industry builds and scales AI on. What stands out most is the pace. They’ve compressed R&D timelines that used to take years into months, more like a research lab than a typical software company.

“We’ve been investors since 2019, and results like that are why we’re proud to lead this round today and keep building with them.”

The data and AI company was founded in 2013 and today works with more than 20,000 organisations, including big names such as Adidas, AT&T, Bayer, Block, Mastercard and Unilever.

Databricks has more than 30 offices globally, and employs more than 500 staff across the UK and Ireland as part of its EMEA operations, headquartered in London.

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