Databricks wraps $5 billion funding round at $190 billion valuation

Databricks CEO Ali Ghodsi speaks at the HumanX conference in San Francisco on April 7, 2026.Big Event Media | HumanX Conference | Getty ImagesDatabricks on Thursday said it closed a $5 billion funding round at a $190 billion valuation.The company said that it has crossed $7 billion in revenue run rate and grown more than 80% year-over-year in its second quarter.Databricks said it will use the funding to support enterprise AI capabilities, including its Unity AI Gateway governance tool and Genie agentic tool.The funding round comes six months after the private data analytics software company raised $5 billion in funding and $2 billion in new debt capacity at a $134 billion valuation. Databricks is among a growing group of companies that have delayed going public, given the myriad of funding opportunities emerging in private markets.SpaceX's blockbuster IPO set the stage for a potentially big year for IPO activity, but shares have been volatile since the debut. Frontier model makers Anthropic and OpenAI have both confidentially filed to go public, gearing up to debut as soon as this year. Read more CNBC tech newsAI's costly buildout complicates the Fed's inflation fightGoogle's new Pixel 11 puts Gemini at center of AI phone battle with AppleMeta and Nvidia plant 'very firm flag' in open-weight AI race led by Chinese LabsCoreWeave stock surges after a 'cleaner quarter.' Here's what's happeningFounded in 2013, Databricks helps companies build AI agents and apps using proprietary data. The company, which ranked No. 3 on CNBC's 2026 Disruptor 50 list, has already exceeded public market rival Snowflake in market value and is expanding its newer verticals. The company's recent Lakebase database launch pits it against incumbents like Oracle and SAP and has already surpassed a $100 million revenue run rate, Databricks said. The company said its Lakehouse data warehousing tool has surpassed a $1.5 billion run rate. In March, Databricks dipped its toes into cybersecurity with its Lakewatch software.Coatue, Blackstone, MGX, T. Rowe Price and Sixth Street Growth led the funding round. — CNBC's Jordan Novet contributed reporting