Databricks Announces Funding Round Valued at $188 Billion, Set to Close Later in Summer 2026

Databricks announced a new round of funding on Thursday that values the company at $188 billion. The round was led by Coatue. Databricks did not disclose the amount raised, and TechCrunch reported that the money is not yet in the company's hands with the round scheduled to close later in summer 2026.

Other outlets reported the raise totals roughly $3 billion. The announcement follows a series of large raises. In February 2026 Databricks closed a $5 billion Series L round at a $134 billion valuation.

In September 2025 it raised $1 billion at a $100 billion valuation. Databricks was founded in 2013. TechCrunch reported that the company has rolled out Lakebase, a database built for AI agents, Unity, an AI gateway, and Omnigent, a meta-harness that manages multiple agents.

Last week Databricks CEO Ali Ghodsi shared results of internal benchmarking on coding tasks for 3,000 software engineers. The benchmarking found that open models, and GLM 5.2 in particular, handle the highest level of task difficulty at a lower total cost than proprietary models from Anthropic and OpenAI.

It also found that the open-source harness Pi ranks among the best at managing context surrounding each prompt while remaining one of the lowest-cost options without sacrificing quality.