Databricks on Thursday announced a new round of funding that values the company at $188 billion. The round was led by Coatue.
Databricks didn’t disclose exactly how much it raised; it said the money isn’t in its hands yet and that the round will close later this summer. (Other outlets have since reported the raise is roughly $3 billion.) While it’s unusual for a company to announce before it gets the money, a VC tells TechCrunch that the deal is solid, with so many firms wanting in that the company had no reason to keep its shiny new valuation a secret.