Snowflake, Databricks challenger Clickhouse hits $15B valuation

Database provider ClickHouse secured $400 million at a $15 billion valuation, Bloomberg reported, representing about a 2.5x increase from its $6.35 billion valuation last May. The round was led by Dragoneer Investment Group, the startup said, with participation from investors including Bessemer Venture Partners, GIC, Index Ventures, Khosla Ventures, and Lightspeed Venture Partners.

ClickHouse, which spun out from Russian search giant Yandex in 2021, develops database software designed to process the massive datasets required by AI agents. 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 LangSmith, LangChain’s observability platform.

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