Databricks raises $5 billion at a $190 billion valuation, buys ElectricSQL

Databricks closed a $5 billion strategic funding round on Aug. 13 at a $190 billion valuation, up from $134 billion in December 2025, and acquired ElectricSQL the same day.

The raise ranks among the largest private financings in enterprise software, and it lands as Databricks moves to run the data backend for AI agents. The company said it crossed a $7 billion annualized revenue run-rate, growing more than 80% year over year, with its Lakehouse product past a $1.5 billion run-rate and its newer serverless Postgres service, Lakebase, above $100 million.

Coatue led the round. Blackstone, MGX and T. Rowe Price accounts joined alongside new investor Sixth Street Growth and returning backers including Andreessen Horowitz, Thrive Capital and GIC.

CEO Ali Ghodsi said Databricks originally set out to raise $1 billion. Investor interest surged after word of the fundraise circulated during the company’s June conference, generating what Ghodsi described as $15 billion in demand from a select group of investors.

Databricks earmarked the money for three products: Lakebase, its serverless Postgres for AI agents; Genie, an AI assistant; and Unity AI Gateway, which governs model cost and access. The ElectricSQL purchase — the startup created the PGlite embedded database — feeds directly into Lakebase.

The growth figures are the company’s own and unaudited. Databricks reports more than 1,000 customers at over $1 million in annual run-rate and more than 100 above $10 million.

The valuation climbed by more than 40% since December without a public listing, leaving the timing of any Databricks IPO as the open question its new backers are paying to influence.