Aug 13 (Reuters) - Databricks said on Thursday it had closed a $5 billion strategic funding round at a $190 billion valuation as the data and AI software company looks to expand investments in products for AI agents.

The round was led by Coatue with participation from Blackstone, MGX, accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management and new investor Sixth Street Growth.

The company also said it had surpassed a $7 billion annualized revenue run-rate, delivering more than 80% year-over-year growth in the second quarter.

Databricks, which helps enterprises analyze data and build AI applications, competes with Snowflake and is widely regarded by analysts as one of the most prominent private companies likely to pursue an eventual initial public offering, alongside OpenAI and Anthropic.