Databricks raises $5B at $190B valuation with $7B revenue run-rate

Databricks Inc. has closed a $5 billion funding round valuing the company at $190 billion, according to a company announcement on Tuesday.

The Series I financing brings the San Francisco-based data analytics firm’s valuation to nearly triple its previous $62 billion mark, set in February 2024. Revenue for the company has reached a $7 billion annual run-rate, the company said, up from $5.7 billion in late 2023.

The round was led by existing investors, including Fidelity Management & Research Company, T. Rowe Price Associates, and BlackRock, alongside new participants such as Andreessen Horowitz and funds managed by Morgan Stanley Investment Management. Databricks declined to disclose additional financial terms or the number of investors involved in the transaction.

The company provides a unified data platform combining data engineering, machine learning, and analytics capabilities. Its growth has been driven by enterprise demand for scalable data solutions amid rising adoption of artificial intelligence and cloud-based infrastructure.

Databricks’ latest valuation reflects broader trends in the technology sector, where high-growth software firms continue to attract significant capital despite broader market volatility. The company’s revenue trajectory underscores its position as a key player in the data infrastructure space, competing with established providers such as Snowflake and Cloudera.

The funding round follows Databricks’ expansion into new markets, including partnerships with major cloud providers and increased enterprise deployments. The company has not indicated plans for an initial public offering, though its rapid valuation growth has drawn comparisons to other high-profile tech unicorns.