Databricks closed a $5 billion strategic funding round on August 13, pushing its valuation to $190 billion — up from $134 billion in a February round — as the data and AI platform company leans further into enterprise agent infrastructure. The round was led by Coatue, with participation from Blackstone, MGX, T. Rowe Price and Sixth Street Growth.

Where the money is going

Databricks said the capital will be directed at three products tied to its agent push: Agent Bricks, a framework for building and evaluating multi-agent enterprise workflows; Lakebase, a database built specifically for AI agents that Databricks says has already crossed a $100 million revenue run-rate; and Unity AI Gateway, which manages model access and controls costs across an organization's agent deployments. Alongside the funding news, Databricks disclosed it surpassed a $7 billion revenue run-rate with more than 80% year-over-year growth in its most recent quarter, and that its Lakehouse data-warehousing business has climbed past $1.5 billion in annualized revenue with triple-digit growth.

Riding enterprise agent demand

The round lands as enterprises increasingly look for infrastructure to run AI agents against their own data rather than relying solely on general-purpose chat interfaces. Databricks' pitch is that Agent Bricks and Lakebase give companies a way to build and govern multi-agent systems directly on top of the data they already store in the Databricks platform, competing for the same enterprise budgets as agent platforms from Google, Microsoft, Salesforce and OpenAI's newer Presence product.

Why it matters

At $190 billion, Databricks is now among the most valuable private AI infrastructure companies, and the round is a signal that investors are still willing to write large checks for the "picks and shovels" layer underneath AI agents — data, evaluation and cost-control tooling — even as headline generative-AI valuations face growing scrutiny. The explicit framing of the raise around Agent Bricks and Lakebase, rather than Databricks' broader data platform, underscores how central agent workloads have become to the company's growth story less than a year after Agent Bricks first launched.