Databricks has secured $5 billion in a follow-on funding round, valuing the company at $190 billion. This raise follows a quarter where annualized recurring revenue surpassed $7 billion, an 80% year-over-year increase, with its Lakehouse product exceeding $1.5 billion. The funds, led by Coatue, Blackstone, MGX, T. Rowe Price, and Sixth Street Growth, will be used to enhance its Lakebase service, incorporating technology from its recent acquisition of Electric DB.