Databricks Raises $5 Billion to Expand Enterprise AI Agent Platform

Data and artificial intelligence (AI) company Databricks raised $5 billion in a strategic funding round at a $190 billion valuation, the firm said in a Thursday (Aug. 13) press release.

The new valuation is up from the $134 billion at which it was valued in a February funding round and the $62 billion at which it was valued in a January 2025 funding round.

Databricks will use the new funding to support continued development of its serverless Postgres database for AI agents, Lakebase; its AI coworker, Genie; and its gateway for multi-AI governance and cost controls, Unity AI Gateway, according to the Thursday press release.

Together, these solutions deliver the foundation, context, smart routing and cost controls companies need to deploy AI agents, the release said.

Databricks also announced Thursday that it has surpassed a $7 billion revenue run-rate and that it delivered 80% year-over-year growth in the second quarter.

Databricks Co-Founder and CEO Ali Ghodsi said in the release that enterprises want AI agents working across their business and that Databricks offers the foundation they need.

“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,” Ghodsi said.

Databricks’ latest funding round was led by Coatue.

Coatue Co-Founder Thomas Laffont said in the release: “Databricks has spent a decade being early to where AI was headed. Now it’s the infrastructure the industry builds and scales on.”

Databricks said in a July 16 press release that it was raising a round of strategic funding at a $188 billion valuation and that it expected the round to close by the end of summer.

The company said at the time that in addition to investing in its products, it would use the new capital to support future AI acquisitions and deepen AI research.

Databricks announced July 23 that it expanded its decade-long partnership with Microsoft through the 2030s to scale enterprise AI. Databricks will deepen its use of Azure Databricks to run core business operations and will leverage Azure Cobalt to improve performance and efficiency, while Microsoft will continue integrating the Databricks platform across its products, the company said.