The latest funding round values Databricks at $190 billion and will support investments in Lakebase, Genie and Unity AI Gateway as the company expands its Data and AI platform for enterprise adoption.
Databricks has crossed a $7 billion revenue run-rate, reporting more than 80% year-on-year growth during its second quarter. The Data and AI company has also secured $5 billion in strategic funding at a valuation of $190 billion, reflecting continued investor confidence in its AI-focused growth strategy.
The funding will be used to accelerate development across three key offerings: Lakebase, a serverless Postgres database designed for AI agents; Genie, an AI coworker that converts business data into answers and actions; and Unity AI Gateway, which provides governance and cost controls for multi-AI environments.
The funding round was led by Coatue, with participation from Blackstone, MGX, T. Rowe Price-related accounts and new investor Sixth Street Growth. Other new investors included BOND, Clearlake Capital, Point72, Premji Invest and TPG. Existing investors including Andreessen Horowitz, Fidelity Management & Research Company, GIC, Goldman Sachs Alternatives, Insight Partners, J.P. Morgan Private Capital, Temasek and Thrive Capital also participated.
AI agents drive platform expansion
Databricks said enterprises are increasingly looking at AI agents as a new category of digital workers that require access to reliable operational data, enterprise context and cost-efficient AI infrastructure.
The company is positioning its Data + AI Platform around these requirements. Lakebase is designed to provide real-time operational data, while Genie helps organisations work with enterprise information. Unity AI Gateway adds controls for managing multiple AI models and associated costs.
The company said the combination is intended to help businesses deploy AI agents that can work across enterprise environments while maintaining greater control over data, model usage and spending.
Lakebase revenue crosses $100 million
Databricks said its latest funding follows strong business momentum across its portfolio. The company has maintained more than 80% year-on-year growth and has generated positive adjusted free cash flow over the past 12 months.
Its Lakehouse data warehousing business has crossed a $1.5 billion revenue run-rate, growing more than 100% year-on-year. Lakebase has also surpassed a $100 million revenue run-rate.
The company now has more than 1,000 customers generating over $1 million in annualised revenue run-rate, while more than 100 customers are consuming services at over $10 million in revenue run-rate.
“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. “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 maximize their impact with agents.”
“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 Thomas Laffont, Co-founder of Coatue. “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.”
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
