Databricks surpasses $7B revenue run

Databricks surpasses $7B revenue run-rate with 80% growth

The company closes a $5 billion funding round at a $190 billion valuation as it expands Lakebase, Genie and Unity AI Gateway for enterprise AI agents

Databricks, the Data and AI company, announced it crossed a $7 billion revenue run-rate, delivering >80% year-over-year growth during its Q2. Building on this momentum, the company closed a $5 billion strategic funding round at a $190 billion valuation. The investment will drive continued innovation across Lakebase, its serverless Postgres database built for AI agents, Genie, Databricks’ AI coworker that turns business data into trusted answers and actions, and Unity AI Gateway, for multi-AI governance and cost controls.

The round was led by Coatue, along with Blackstone, MGX, accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc., and new investor Sixth Street Growth. Other new investors included BOND, Clearlake Capital, Point72, Premji Invest, and TPG alongside existing investors Andreessen Horowitz, Dragoneer, Fidelity Management & Research Company, Franklin Templeton, GIC, Growth Equity at Goldman Sachs Alternatives, Insight Partners, J.P. Morgan Private Capital, Kinetic, Morgan Stanley Investment Management, NEA, Ontario Teachers’ Pension Plan, Temasek, Thrive Capital, and WCM Investment Management.

Today, companies have a new set of employees to support: AI agents. To do their jobs, agents need a reliable, scalable foundation, clear, accurate answers from enterprise data, and the ability to easily forecast budgets and switch to more cost-effective models to avoid burning through expensive tokens. The Databricks Data + AI Platform delivers the foundation with Lakebase, enterprise context with Genie, and smart routing and cost controls with Unity AI Gateway, giving teams a simple way to build AI that actually works.

Databricks’ Financial Momentum

This funding follows Databricks’ continued business momentum, including:

Growing >80% year over year, surpassing $7B revenue run-rate

Continuing to deliver positive adjusted free cash flow over the last 12 months

Surpassing $1.5B revenue run-rate for Lakehouse, its data warehousing product, growing over 100% year over year

Exceeding $100M revenue run-rate for Lakebase

>1,000 customers consuming at over $1 million revenue run-rate

>100 customers consuming at over $10 million 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.”

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