Databricks reports its revenue run rate has crossed $7B, up 80% year over year, as it wraps up a $5B funding round that values the data and AI company at $190B. The financing pushed the company past the $188B mark it set in July.
The raise ballooned from modest beginnings. Chief executive Ali Ghodsi told TechCrunch that Databricks wanted only $1B, but a report published during its June conference triggered a wave of inbound interest, eventually reaching roughly $15B of demand from a select group of backers.
Rather than snub long-time investors, the company issued more stock. Coatue led the round, with Blackstone, MGX, T. Rowe Price-related accounts and new investor Sixth Street Growth also participating, alongside roughly two dozen other funds.
Ghodsi framed the oversubscription as evidence of how far Databricks has traveled from its open source origins. The fresh capital arrives as the company squares off against Snowflake and a crowd of rivals pushing their own data pipelines and AI agent platforms.
