Snowflake, Databricks challenger ClickHouse hits $15B valuation

City: ClickHouse is a database provider that just raised $400 million. This funding gives it a $15 billion value, which is much higher than last year’s $6.35 billion. A group called Dragoneer Investment Group led the investment, and many other big names joined in, like Bessemer Venture Partners and Khosla Ventures.

ClickHouse started from a big company called Yandex in Russia in 2021. It creates database software that helps handle the huge amounts of data needed for AI. This company competes with other firms like Snowflake and Databricks.

They also bought a company called Langfuse. This startup helps developers understand how well their AI works. Langfuse competes with another product called LangSmith, which comes from LangChain.

ClickHouse’s database is open source, which means anyone can use it. They earn money by offering managed cloud services. This part of their business grew by more than 250% in the past year. Well-known customers include Meta, Tesla, and Capital One.