ClickHouse, a database provider, has reached an annualized revenue run rate of $250 million, marking a tripling of its business from the previous year, according to Yury Izrailevsky, co-founder and president of product and technology. Izrailevsky anticipates the revenue will hit the high single digits by year-end. The company's valuation hit $15 billion in January following a $400 million Series D funding round led by Dragoneer Investment Group.
This valuation implies a multiple of over 60 times its annualized revenue. The rapid growth and high valuation position ClickHouse, a less-than-five-year-old company, for an IPO within the next few years, according to Izrailevsky. The startup has acquired six companies, including Langfuse, which aids developers in tracking AI agent performance.
Izrailevsky stated that ClickHouse plans to continue acquiring young, promising open-source startups that complement its core offerings. The technology originated at Russian search giant Yandex 17 years ago and was spun out as an independent startup in 2021. The company serves over 4,000 customers, including Anthropic, Meta, Capital One, and Decagon.
ClickHouse generates revenue through managed cloud services, which it claims offer cost savings compared to self-managing the open-source version. "It’s something that’s a little counterintuitive, but it also has been a big tailwind for us," Izrailevsky said.
Source: techcrunch
