ClickHouse, a database company competing with Snowflake and Databricks, raised $400 million in its latest funding round, reaching a $15 billion valuation—a 2.5x jump from its $6.35 billion valuation last May. The round was led by Dragoneer Investment Group, with participation from Bessemer Venture Partners, GIC, Index Ventures, Khosla Ventures, and Lightspeed Venture Partners.
Origins and Focus. The company spun out of Russian search giant Yandex in 2021. It develops database software designed to handle massive datasets, particularly for AI applications, making it a key player in the AI and cloud infrastructure space.
Growth and Business Model. ClickHouse’s database is open source, with revenue generated through managed cloud services. Its annual recurring revenue has grown over 250% year-over-year. The company counts major customers such as Meta, Tesla, Capital One, Lovable, Decagon, and Polymarket.
Strategic Expansion. Recently, ClickHouse acquired Langfuse, a startup that helps developers track and evaluate AI agent performance. Langfuse competes directly with LangSmith, LangChain’s observability platform.
ClickHouse’s rapid growth highlights the increasing demand for high-performance databases that support AI workloads. By combining open-source flexibility with cloud offerings and strategic acquisitions, the company is strengthening its position in a competitive market.