Databricks raised $5 billion in its latest funding round, the AI and big-data company announced on August 13, 2026, pushing its valuation to $190 billion. The round was led by Coatue and included Blackstone, MGX, several T. Rowe Price accounts, and new investor Sixth Street Growth — the firm founded by former Goldman Sachs chief investment officer Alan Waxman — among roughly two dozen participating firms.
The raise started smaller. Co-founder and CEO Ali Ghodsi said the company originally intended to raise $1 billion, but a news report published during a Databricks conference in June triggered an avalanche of inbound interest. “My phone blew up,” Ghodsi told TechCrunch. “It was like the worst timing for us because we were busy with our conference.” From a select group of investors alone, demand reached $15 billion. To avoid turning away long-term backers, Databricks opted to issue more stock and expand the round. The company had announced the closing of the round in July at a $188 billion valuation, without disclosing the amount raised at that time.
Ghodsi said Databricks has reached $7 billion in annualized run rate revenue, growing at 80% year-over-year, and is cash-flow positive. Its core cloud data warehouse product accounts for $1.5 billion of that figure and is growing at 100% annually. Its agent database product, Lakebase — launched in June 2025 — has reached $100 million in revenue run rate.
The company cited several reasons for raising capital despite strong revenue growth. Databricks holds multibillion-dollar cloud commitments with all three major hyperscalers, maintains an AI research team of 100 people, and has been active in acquisitions. Recent deals include AI cybersecurity company Panther in June and database startup Electric, announced this week.
Databricks has now raised approximately $20 billion over the past 20 months and remains private. Ghodsi has said he intends to take the company public eventually, but indicated his current focus is continued investment in AI.
Source: TechCrunch