Databricks announced on August 13, 2026 that it has closed a $5 billion strategic funding round valuing the data and artificial intelligence company at $190 billion. The round was led by Coatue, with participation from Blackstone, MGX, accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc., and new investor Sixth Street Growth.
Who Else Is Involved
Other new backers named in the announcement include BOND, Clearlake Capital, Point72, Premji Invest, and TPG. A long list of existing investors also took part, among them Andreessen Horowitz, Fidelity Management & Research Company, Franklin Templeton, GIC, Insight Partners, Morgan Stanley Investment Management, NEA, Ontario Teachers’ Pension Plan, Temasek, and Thrive Capital.
Where the Money Is Going
Databricks says the funding will deepen investment in three products aimed at supporting AI agents inside businesses: Lakebase, a serverless Postgres database; Genie, described as an AI coworker that turns company data into answers and actions; and Unity AI Gateway, which handles governance and cost controls across multiple AI models.
The Numbers Behind the Raise
The round follows a stretch of growth Databricks calls its financial momentum. The company says it crossed a $7 billion revenue run-rate in its second quarter, up more than 80% year over year, while maintaining positive adjusted free cash flow over the past 12 months. Its Lakehouse data warehousing product topped a $1.5 billion revenue run-rate, more than doubling year over year, and Lakebase passed $100 million in revenue run-rate. Databricks also reports more than 1,000 customers spending above $1 million in annual run-rate revenue, and over 100 spending above $10 million.
What the Company and Investors Are Saying
“Enterprises don’t just want AI that talks. They want agents working across their business that remember context, deliver accurate answers, and execute work without blowing through their budgets,” said Ali Ghodsi, co-founder and chief executive of Databricks, adding that the round reflects “tremendous investor demand” for the company’s strategy.
Thomas Laffont, co-founder of Coatue, which has backed Databricks since 2019, said the company has “compressed R&D timelines that used to take years into months, more like a research lab than a typical software company.”
Databricks says more than 20,000 organisations worldwide, including adidas, AT&T, Bayer, Mastercard, and Rivian, use its platform.