Databricks has crossed a $7 billion revenue run-rate, recording more than 80 per cent year-on-year growth during its Q2, as the data and AI company continues to scale its enterprise AI platform.
The company has also closed a $5 billion strategic funding round at a $190 billion valuation, led by Coatue, with participation from Blackstone, MGX, accounts advised by T. Rowe Price and new investor Sixth Street Growth.
Databricks said the fresh capital will support continued investment in Lakebase, Genie and Unity AI Gateway, three key components of its strategy to help enterprises deploy and manage AI agents.
Lakebase, the company’s serverless Postgres database designed for AI agents, has surpassed a $100 million revenue run-rate. Databricks said its Lakehouse data warehousing product has also crossed a $1.5 billion revenue run-rate, growing more than 100 per cent year-on-year.
The company reported that more than 1,000 customers are consuming its platform at over $1 million in annual revenue run-rate, while more than 100 customers have crossed the $10 million revenue run-rate threshold.
Databricks is positioning Lakebase as the operational data foundation for AI agents, while Genie provides enterprise context and enables users to obtain trusted answers and actions from business data. Unity AI Gateway adds governance, model-routing capabilities and cost controls across multiple AI models.
Ali Ghodsi, Co-founder and CEO of Databricks, said, “Enterprises don’t just want AI that talks. They want agents working across their business that remember context, deliver accurate answers, and execute work without blowing through their budgets.”
Ghodsi added that the combination of operational data through Lakebase, enterprise context through Genie and multi-AI cost controls through Unity AI Gateway is designed to help businesses maximise the value of AI agents.
Databricks also said it has continued to generate positive adjusted free cash flow over the last 12 months, adding to the company’s financial momentum as it expands its data and AI offerings.
Thomas Laffont, Co-founder of Coatue, said Databricks has increasingly become infrastructure on which organisations build and scale AI, highlighting the company’s pace of product development and investment in artificial intelligence.
The latest funding and revenue milestones underline Databricks’ growing focus on providing enterprises with the infrastructure, data context, governance and cost management required to move AI agents from experimentation into broader business operations.
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