Dec 16 (Reuters) - Cockroach Labs said on Thursday it had raised $278 million in a late-stage funding round led by Greenoaks, lifting the cloud database management software startup"s valuation to $5 billion. The fundraise also included Tiger Global, Coatue, Benchmark, Index Ventures, JPMorgan Chase & Co (JPM.N) and Alphabet Inc"s (GOOGL.O) venture investment arm GV. It took the company"s total raised capital so far to $633 million. Cockroach Labs develops and operates the CockroachDB database that is used by more than 200 customers, including Comcast Corp (CMCSA.O), Bose, DoorDash Inc (DASH.N), Nubank (NU.N) and eBay Inc (EBAY.O). The New York City-based startup said it had tripled its annual recurring revenue over the past year and posted a more than sixfold rise in cloud revenue for the last quarter. Companies powering the digital economy have aggressively raised capital over the past year to fund a surge in growth fueled by the pandemic-driven shift to remote working. "The future of application development is changing ... we are on the cusp of a paradigm shift in the industry," said Spencer Kimball, the co-founder and chief executive officer of Cockroach Labs. The company said it planned to use the new capital to develop the CockroachDB database, increase its customers and expand into new markets.