Databricks Raises $5 Billion at $190 Billion Valuation

Published Aug 13, 02:00 PM UTC

Databricks, a private data analytics and AI company, announced on Thursday the closure of a $5 billion funding round at a $190 billion valuation, a significant increase from its $134 billion valuation just six months prior. The company reported crossing a $7 billion revenue run rate with over 80% year-over-year growth in its second quarter. Databricks is capitalizing on the agentic AI wave, helping enterprises build AI agents using proprietary data. The company has surpassed public rival Snowflake in market value and is expanding into new verticals, including databases with Lakebase (competing against Oracle and SAP) and cybersecurity with Lakewatch. Databricks joins a growing list of private companies delaying IPOs due to abundant private market funding, even as SpaceX's IPO and confidential filings by Anthropic and OpenAI signal potential market activity.