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Data and AI platform company, Databricks, has surpassed a $7 billion revenue run-rate after delivering more than 80 per cent year-over-year growth during its second quarter, which ended on 31 July 2026.
The company has also closed a $5 billion strategic funding round at a $190 billion valuation, capital it intends to direct toward its AI product strategy.
Growth across key products
The revenue milestone reflects momentum across several of Databricks’ product lines.
Lakehouse, its data warehousing product, surpassed a $1.5 billion revenue run-rate, growing more than 100 per cent year over year. Lakebase, a serverless Postgres database designed for AI agents, exceeded a $100 million revenue run-rate.
More than 1,000 customers are now consuming at over $1 million in annual revenue run-rate, with more than 100 of those exceeding $10 million. The company has also delivered positive adjusted free cash flow over the past 12 months.
$5 billion funding round
The funding round was led by Coatue, alongside Blackstone, MGX, accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management, and new investor Sixth Street Growth.
Other new investors in the round included BOND, Clearlake Capital, Point72, Premji Invest and TPG.
Existing investors who participated included 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.
AI agents as the next enterprise workload
Databricks is framing its product strategy around the idea that companies now have a new category of user to support: AI agents.
The company argues that for agents to function in enterprise settings, they need a reliable and scalable data foundation, accurate answers drawn from enterprise data, and the ability to manage costs by forecasting budgets and switching between models.
Databricks is positioning three products to address those requirements. Lakebase provides the operational data layer, Genie serves as an AI interface that turns business data into answers and actions, and Unity AI Gateway offers governance and cost controls across multiple AI models.
Co-Founder and CEO, Ali Ghodsi, framed the investment around this thesis.
“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,” Ghodsi explained.
“That requires real-time operational data with Lakebase, context from across the business with Genie, and multi-AI cost controls with Unity AI Gateway.”
Ghodsi pointed to investor demand as a signal the strategy is gaining traction.
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“The investor demand for this round shows that our AI strategy is winning the market and building what every business needs to maximise their impact with agents,” he added.
Investor perspective
Coatue Co-Founder, Thomas Laffont, who led the round, highlighted the company’s pace of development as a differentiator.
“Databricks has spent a decade being early to where AI was headed. Now it’s the infrastructure the industry builds and scales AI on,” Laffont noted.
“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.”
Coatue has been an investor in Databricks since 2019.
Scale and customer base
Databricks counts more than 20,000 organisations worldwide as customers, including Adidas, AT&T, Bayer, Block, Mastercard, Rivian and Unilever. The company claims that 70 per cent of the Fortune 500 use its platform.
The company is headquartered in San Francisco and operates more than 30 offices globally. Its platform includes Genie, Lakebase, Agent Bricks, Lakeflow, Lakehouse and Unity Catalog.
Last Updated on August 15, 2026 by Nick Ross
