ClickHouse has closed a $400 million Series D financing round led by Dragoneer Investment Group. The funding will accelerate expansion across real-time analytics and AI infrastructure. Existing investors Bessemer Venture Partners, GIC, Index Ventures, Khosla Ventures, Lightspeed Venture Partners, accounts advised by T. Rowe Price Associates, Inc., and WCM Investment Management also participated in the round.
The financing comes as ClickHouse reports strong momentum. The company now serves more than 3,000 customers on its fully managed service, ClickHouse Cloud, with annual recurring revenue growing more than 250 percent year over year. Recent customer wins include Capital One, Lovable, Decagon, Polymarket, and Airwallex. These join an established base featuring AI innovators and major brands like Meta, Cursor, Sony, and Tesla.
The financing reflects growing demand for infrastructure that can support AI systems moving from experimentation into production. These applications generate significantly higher query volumes, operate with tighter latency requirements, and require continuous evaluation and observability.
"ClickHouse was built to deliver exceptional performance and cost efficiency for the most demanding data workloads, and this momentum validates that strategy," said Aaron Katz, CEO of ClickHouse. "As we look toward the future, we are adding support for unified transactional and analytical workloads, so developers can build any type of applications powered by AI on the best technical foundation. And we are expanding our offering to include LLM observability, so AI application builders can evaluate the quality and behavior of AI outputs as they move into production. Additional funding, combined with continued product execution, positions us to deliver the leading data and LLM observability platform in the AI era."
Dragoneer Investment Group takes a highly selective, research-driven approach to investing. Founded by Marc Stad in 2012, the firm seeks long-term partnerships with a small number of category-defining companies. Its portfolio includes several of the leading data platforms of the past decade, as well as foundational AI companies.
"Major platform shifts ultimately reward the infrastructure companies that sit closest to production," said Christian Jensen, Partner at Dragoneer Investment Group. "As models become more capable, the bottleneck moves to data infrastructure. ClickHouse stood out because it delivers the performance, efficiency, and reliability required for AI systems operating at scale."
ClickHouse's growth has been fueled by its ability to enable net-new workloads rather than simply replacing existing systems. By making real-time analytics cost-effective at scale, the platform supports use cases that were previously impractical due to latency or cost constraints.
Unlike many data infrastructure platforms that primarily serve internal analytics teams, ClickHouse is frequently embedded in customer-facing products. Performance and reliability directly impact end-user experience in these deployments. ClickHouse supports a broad range of mission-critical, real-time workloads embedded in always-on, customer-facing, and AI-driven systems.
"We look for platforms that customers rely on when systems cannot go down, and ClickHouse consistently demonstrated those characteristics," Jensen added.
ClickHouse has acquired Langfuse, the open-source LLM observability platform. The acquisition marks the company's entry into a market focused on ensuring that non-deterministic and increasingly complex AI systems produce outputs that are accurate, safe, and aligned with user intent.
As AI systems become increasingly embedded in production workflows, LLM observability has emerged as a critical requirement for teams building and operating AI-powered applications. Unlike traditional observability, which focuses on system health and performance metrics, LLM observability addresses the unique challenges of evaluating AI outputs.
The Langfuse open source project has seen rapid adoption, ending 2025 at over 20,000 GitHub stars and more than 26 million SDK installs per month. The platform is trusted by 19 of the Fortune 50 and 63 of the Fortune 500 companies.
"We built Langfuse on ClickHouse because LLM observability and evaluation is fundamentally a data problem," said Marc Klingen, CEO of Langfuse. "Now, as one team, we can deliver a tighter end-to-end product: faster ingestion, deeper evaluation, and a shorter path from a production issue to a measurable improvement."
ClickHouse is introducing an enterprise-grade Postgres service deeply integrated with its analytics platform. The offering addresses the need for modern, real-time AI applications that require both transactional and analytical capabilities.
The unified data stack includes high-performance, scalable Postgres backed by NVMe storage and with native CDC capabilities. Users can sync transactional data to ClickHouse in just a few clicks, unlocking up to 100X faster analytics. A unified query layer powered by a native Postgres extension enables applications that seamlessly span transactions and analytics without managing separate systems.
The service is built in partnership with Ubicloud, an open-source cloud company delivering high-performance Postgres. Ubicloud is led by a team with a strong track record at Citus Data, Heroku, and Microsoft.
"Postgres and ClickHouse complement each other naturally, and are key for AI applications. Together, we're delivering an integrated stack that removes complexity for teams, with production-grade Postgres for transactions and ClickHouse for analytics working as one," said Umur Cubukcu, Co-CEO and Co-Founder of Ubicloud. "We're excited to join forces with ClickHouse at Ubicloud because this is how the open-source ecosystem wins: trusted teams building best-in-class products that work and grow together."
ClickHouse continues to expand its global footprint alongside its financing and Langfuse acquisition. In the past year, the company entered the Japanese market through a partnership with Japan Cloud and announced a partnership with Microsoft Azure focused on OneLake.
The company has held user events in San Francisco, New York, Amsterdam, Sydney, and Bangalore, attracting over 1,000 attendees. Speakers from companies like OpenAI, Tesla, Capital One, Ramp, and Canva participated in these events. ClickHouse also hosted the AWS re:Invent Chainsmokers customer event for the second consecutive year.
Recent product advancements strengthen the company's position at the intersection of analytics, AI, and observability. ClickHouse has made significant investments in data lake support, adding compatibility with Apache Iceberg, Delta Lake, and the most widely used data catalogs. The platform has also expanded full-text search capabilities, which are increasingly critical for observability use cases, including AI observability. Lightweight updates have been introduced to support more demanding AI-driven applications.
The platform continues to deliver industry-leading price-performance, exceeding leading cloud data warehouses according to recent benchmarks. With the Series D financing, the acquisition of Langfuse, and introduction of a native Postgres offering, ClickHouse is positioned to accelerate growth and further expand its role as a unified data platform and AI observability solution.
