Databricks secures $3 billion investment at $188 billion valuation
Databricks, the analytics software company, just landed a fresh funding deal that values it at a staggering $188 billion.
According to a Wall Street Journal report, Coatue Management is leading the charge with a $3 billion investment, and both new and existing investors are joining in.
This follows Databricks's earlier raise of about $5 billion this year at a $134 billion valuation, making it one of the most valuable private tech companies out there.
The deal wraps up later this summer.
Analysts see Databricks as IPO candidate
Databricks helps users build AI apps using big, complex datasets, putting it head-to-head with rivals like Snowflake.
With AI exploding across industries, investors are betting big on companies like Databricks that power these advancements.
Analysts widely see Databricks as a public-listing candidate, joining the likes of OpenAI and Anthropic as major players in the public market conversation.