Databricks has crossed a US$7 billion revenue run-rate, growing more than 80 per cent year-over-year in its second quarter, the company announced. Building on that momentum, Databricks has closed a US$5 billion strategic funding round at a US$190 billion valuation.

The round was led by Coatue, alongside Blackstone, MGX, accounts advised by T. Rowe Price, and new investor Sixth Street Growth. Other new investors include BOND, Clearlake Capital, Point72, Premji Invest and TPG, alongside existing backers such as Andreessen Horowitz, Fidelity, GIC, Goldman Sachs Alternatives, Insight Partners, Morgan Stanley Investment Management, NEA, Ontario Teachers’ Pension Plan, Temasek and Thrive Capital.

Doubling down on Lakebase, Genie and Unity AI Gateway

The fresh capital will deepen investment in three products aimed squarely at enterprise AI agents: Lakebase, its serverless Postgres database built for AI agents; Genie, an AI coworker that turns business data into answers and actions; and Unity AI Gateway, which handles multi-AI governance and cost controls.

• Lakebase has surpassed a US$100 million revenue run-rate
• Lakehouse, Databricks’ data warehousing product, has surpassed a US$1.5 billion revenue run-rate, growing more than 100 per cent year-over-year
• Databricks has continued to deliver positive adjusted free cash flow over the last 12 months
• More than 1,000 customers now consume over US$1 million in revenue run-rate; over 100 consume more than US$10 million

“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 CEO of Databricks.

Investor confidence in the AI infrastructure race

Thomas Laffont, Co-founder of Coatue, said the firm has invested in Databricks since 2019 and pointed to the pace of the company’s product development as a key factor behind the new round.

“Databricks has spent a decade being early to where AI was headed. Now it’s the infrastructure the industry builds and scales AI on,” said Laffont. “They’ve 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 roughly 70 per cent of the Fortune 500, now rely on its Data and AI platform.