ClickHouse raises $400M, jumps to $15 billion valuation

ClickHouse Inc., the maker of an open-source real-time analytics database, closed a $400 million Series D that values the company at roughly $15 billion, the firm announced following a surge in investor interest tied to artificial intelligence infrastructure. The financing and a concurrent acquisition mark a rapid expansion for a company that has become central to workloads powering AI features and operational analytics.

The Series D was led by Dragoneer Investment Group and included participation from longtime venture backers such as Bessemer Venture Partners, GIC, Index Ventures and Khosla Ventures. Additional investors across the syndicate reportedly include Lightspeed Venture Partners, T. Rowe Price and WCM Investment Management. The round follows a previous private-market valuation of about $6.35 billion less than eight months earlier, reflecting a sharp re‑rating of the company in less than a year.

ClickHouse said its growth is driven by rising demand for fast, cost-effective query responses needed to support AI-driven products and services. The company reported annualized recurring revenue growth of more than 250 percent year-over-year and said it now serves more than 3,000 customers on its fully managed cloud service. Corporate users named by the company include Meta, Sony, Tesla, Capital One, Lyft and Instacart, alongside AI-focused firms such as Cursor and Decagon.

Industry analysts describe the fundraising as another signal that investors are concentrating capital on firms that underpin AI deployments. As companies embed machine learning and large language models into products, the volume and velocity of data driving telemetry, observability and security workloads have ballooned, increasing demand for databases that deliver real-time analytics at scale and cost efficiency. Competing vendors in adjacent markets include Databricks and Snowflake, both of which have recently attracted large private-market valuations.

Alongside the financing, ClickHouse disclosed the acquisition of Langfuse, a German open-source platform focused on large language model observability. Langfuse’s tooling is designed to help teams build, test and monitor LLMs, adding capabilities that ClickHouse executives framed as complementary to the company’s data-processing strengths. The purchase positions ClickHouse to offer tighter integrations for developers and operations teams building LLM-driven features and to address the operational complexity of model evaluation and performance tracking.

The move consolidates ClickHouse’s role as a bridge between core data infrastructure and emerging AI toolchains, combining high-throughput analytics with observability features specific to generative models. For customers, the blend promises faster feedback loops for product telemetry and stronger visibility into model behavior. For investors, the combination underscores the belief that specialized infrastructure companies will capture outsized value as enterprises scale AI.

ClickHouse traces its technical lineage to engineering work at Yandex, and was spun out into an independent company that now distributes open-source database software optimized for real-time analytics. With the new capital and the Langfuse acquisition, ClickHouse plans to accelerate product development and expand its cloud services as competition intensifies and demand for AI-ready infrastructure continues to grow.