Databricks has closed a $5 billion strategic funding round at a $190 billion valuation after reporting that its revenue run-rate crossed $7 billion in its second quarter, up more than 80 percent year on year.

The round was led by Coatue, with participation from Blackstone, MGX, accounts advised by T. Rowe Price, and new investor Sixth Street Growth. Other new investors included BOND, Clearlake Capital, Point72, Premji Invest and TPG, while existing backers participating in the round included Andreessen Horowitz, GIC, Temasek, Thrive Capital and others, according to the company.

Databricks said the new capital will support continued investment in Lakebase, its serverless Postgres database for AI workloads, Genie, its business data assistant, and Unity AI Gateway, which provides controls for the use of multiple AI models.

The company also said Lakebase has exceeded a $100 million revenue run-rate, while its Lakehouse data warehousing product has surpassed a $1.5 billion revenue run-rate and is growing at more than 100 percent year on year. Databricks said it remained adjusted free-cash-flow positive over the past 12 months.

The financing follows an earlier Databricks funding package covered by TNGlobal in January 2025, when Temasek participated in a financing package that valued the company at $62 billion. TNGlobal also previously reported on Databricks’ expansion into Indonesia as part of its broader push in ASEAN.

Databricks co-founder and Chief Executive Officer Ali Ghodsi said the company is focusing on the data, context and cost-control requirements that enterprises face as they move AI agents into production. The company is positioning Lakebase, Genie and Unity AI Gateway as components of that infrastructure.

Databricks said it now has more than 20,000 customers worldwide, with more than 1,000 customers consuming its services at an annualized rate above $1 million and more than 100 above $10 million.