Snowflake, Databricks Clickhouse competitor reaches $15 billion valuation

Database provider ClickHouse secured $400 million at a $15 billion valuation, Bloomberg reports I mentioned, This represents an increase of approximately 2.5 times from its valuation of $6.35 billion last May. The round was led by Dragoneer Investment Group. The startup saidWith participation from investors including Bessemer Venture Partners, GIC, Index Ventures, Khosla Ventures, and Lightspeed Venture Partners.

ClickHouse, which spun out of Russian search giant Yandex in 2021, is developing database software designed to process the massive data sets required by AI clients. The company competes with Snowflake and Databricks.

The company also announced the acquisition of Langfuse, a startup that helps developers track and evaluate the performance of their AI agents. Langfuse competes directly with lang smithLangChain monitoring platform.

ClickHouse’s database is open source, and it makes money by selling managed cloud services, which has seen annual recurring revenue (ARR) grow more than 250% year-on-year, she said. The company’s clients include Meta, Tesla, Capital One, Lovable, Decagon, and Polymarket.