Databricks announced a new funding round Thursday valuing the company at $188 billion, led by Coatue. The valuation jump caps an aggressive 18-month run: $10B raised at a $62B valuation in Dec 2024, $1B at $100B in Sep 2025, $5B at $134B in Feb 2026, and now this latest round at $188B.

Founded in 2013 as a big-data analytics platform, Databricks has repositioned as core AI infrastructure, rolling out products like Lakebase, Unity, and Omnigent on top of its existing enterprise data holdings.

The new capital will fuel Databricks' AI strategy, with the company doubling down on three core products: Unity AI Gateway, its multi-AI governance tool for managing enterprise AI costs; Genie, an AI coworker that turns business data into trusted answers and actions; and Lakebase, a serverless Postgres database built for AI agents.

Databricks says its platform is now used by more than 20,000 organizations, including adidas, AT&T, Bayer, Block, Mastercard, Rivian, and Unilever, along with 70% of the Fortune 500.