ClickHouse, a provider of database software, has secured $400 million in new funding at a valuation of $15 billion. This represents a significant increase, roughly two and a half times its $6.35 billion valuation from May of last year. The investment round was led by Dragoneer Investment Group, with participation from several other investors including Bessemer Venture Partners, GIC, Index Ventures, Khosla Ventures, and Lightspeed Venture Partners.
Originally spun out from the Russian search company Yandex in 2021, ClickHouse develops database software engineered to process the massive datasets required by artificial intelligence agents. The company positions itself as a competitor to other data platform giants like Snowflake and Databricks.
Alongside the funding news, ClickHouse announced the acquisition of Langfuse, a startup that builds tools for developers to track and evaluate the performance of their AI agents. This places ClickHouse in direct competition with similar observability platforms in the AI development space.
The ClickHouse database itself is open source. The company generates revenue by selling managed cloud services, which it reports have seen annual recurring revenue grow by more than 250 percent year-over-year. Its customer roster includes prominent names such as Meta, Tesla, Capital One, Lovable, Decagon, and Polymarket.