Clear Street, the cloud-native brokerage that has been quietly building itself into a Wall Street alternative since 2018, is now letting accredited investors buy into Databricks before the AI data company hits public markets. The offering comes as Databricks signed a term sheet on July 16 valuing it at $188B, a figure that makes it one of the most valuable private companies on the planet.
The deal behind the deal
Databricks’ latest strategic funding round is expected to raise approximately $3B, with Coatue Management leading the charge. The round represents a massive jump from the company’s previous valuation of roughly $134B, meaning the AI and data analytics firm added about $54B in paper value in a relatively short window.
Databricks is widely viewed as IPO-ready, but the company may delay its public listing to 2027. Clear Street plans to offer accredited investors access to Databricks shares through the secondary market, alongside shares in 30 additional private companies by the end of the year.
Databricks’ revenue run-rate now exceeds $5B.
