Databricks completed a $5 billion strategic funding round in August 2026 at a $190 billion post-money valuation, up sharply from the prior $134 billion round earlier that year, with secondary-market marks subsequently ranging from roughly $193 billion to $216 billion by late October. The company reported crossing a $7 billion annualized revenue run rate with over 80% year-over-year growth, driven by enterprise adoption of its Lakehouse platform and newer AI-agent offerings such as Lakebase, which itself reached a $100 million run rate. Positive adjusted free cash flow and a customer base spanning more than 60% of the Fortune 500 supported continued private-market demand, though the absence of audited public filings leaves some multiples open to interpretation relative to peers like Snowflake. No IPO occurred in 2026, with management citing a crowded calendar and indicating a potential 2027 debut; valuation resolution for any October 31 threshold would therefore hinge on the latest secondary prints or fund marks available at that date rather than a new primary round.