Databricks announces Coatue-led funding round at $188 billion valuation

The private-market step-up comes five months after Databricks closed a $5 billion Series L at a $134 billion valuation.

Databricks has announced a new funding round led by Coatue that values the data and AI company at $188 billion.

The company did not disclose the amount being raised and said the funds have not yet been received. Databricks expects the round to close later this summer, leaving the final size and terms unconfirmed. Other outlets have reported that the raise is roughly $3 billion, but Databricks has not confirmed that figure.

The valuation represents a sharp increase from February, when Databricks closed a $5 billion Series L at a $134 billion valuation. The new $188 billion mark is about 40% higher in five months.

That rise continues a rapid sequence of private financings. Databricks raised $1 billion at a $100 billion valuation in September 2025, following a $10 billion round at a $62 billion valuation in December 2024. Its valuation has more than tripled since that December round.

Founded in 2013, Databricks initially built its business around software that helped enterprises store large amounts of cloud data and run analytics quickly. Its existing position in enterprise data has helped it reposition itself as companies seek AI systems with the security and governance expected of traditional enterprise software.

The timing remains unusual for a private financing: Databricks announced the valuation before the round closed. Until the transaction is completed, the final amount raised, participating investors beyond Coatue and final terms remain unknown. What Databricks has confirmed is the $188 billion valuation attached to the announced round.