Databricks secures funding round at $188 billion valuation

Databricks said on Thursday it has signed a term sheet for a strategic funding round that values the data analytics software firm at $188 billion.

Here are a few details:

The round, which Databricks expects to close later this summer, ‌is being ⁠led ⁠by existing investor Coatue and will include both new and ​existing investors.