Databricks hits $188bn valuation in Coatue-led round, landing above its own $175bn talks

$188bn is a large number for a company that keeps insisting it is in no rush to go public. That is the valuation Databricks has reached in a new funding round led by Coatue Management, a figure first reported by the Wall Street Journal.

The mark sits well above the up-to-$175bn the firm was reportedly in talks to raise at only weeks earlier, so the round is landing higher than the chatter that trailed it. It also arrives in a market its own chief executive recently dismissed as a terrible year to go public, which makes a private raise the obvious move.

Coatue is investing roughly $3bn, according to the Journal, in a strategic round that draws in both new and existing backers. A term sheet has been signed, and the deal is expected to close later this summer, with neither the fund nor the company commenting publicly.

Strategic...

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