Databricks valuation jumps 40% in 6 months to $188 billion

Databricks announced a strategic funding round that values the company at $188 billion, a 40% increase from its $134 billion valuation in December. The round, led by Coatue, will fuel the expansion of its AI product portfolio and is expected to close later in the summer.

AI /tag/ai/ Databricks is raising more funding to fuel its expanding fleet of AI products. The cloud-based data platform company announced the strategic funding round https://www.databricks.com/company/newsroom/press-releases/databricks-raising-strategic-round-funding-188-billion-valuation?ref=thestack.technology late Wednesday, June 16. It said the term sheet had been signed for the raise, which values the company at $188 billion, and would close later in the summer. The new valuation marks a 40% jump from December, when it was last valued at $134 billion after completing around $7 billion in investments.The round is being led by Coatue, and will include new and existing investors. Get the full story: Subscribe for free Join peers managing over $100 billion in annual IT spend and subscribe to unlock full access to The Stack’s analysis and events. Subscribe now https://www.thestack.technology/membership/ Already a member? Sign in https://www.thestack.technology/signin/