INSUBCONTINENT EXCLUSIVE:
stock of a cohort of special companies: still-private startups that have reached $100 million in annual recurring revenue (ARR)
Our goal is to understand which startup companies are actually exceptional
This late in the unicorn era, hundreds of companies around the world have reached a valuation of $1 billion, making the achievement somewhat
pedestrian.Reaching $100 million in ARR, however, still stands out.We explored the idea earlier this week, citing Asana, Druva and WalkMe as
private companies that recently reached $100 million ARR
In addition to that trio, Bill.com and Sprout Social, both of which wentpublic this week, also crossed the nine-figure annual recurring
revenue mark in 2019.After we posted that short list, four other companies either just shy of $100 million ARR, or with a little bit more,
reached out to TechCrunch, touting their own successes
companies joining the $100 million ARR club.For extra fun I got on the phone with a number of their CEOs to chat about their progress
Backed by more than $400 million in private capital, GitLab competes with the now-purchased GitHub as a developer resource and service
Its backers include Goldman Sachs, ICONIQ, GV, August Capital and Khosla.GitLab became a unicorn back in September of 2018, when it raised
$100 million at a $1 billion post-money valuation
case, provided that it grows as expected, its unicorn valuation came nearly 1.5 years before reaching nine-figure ARR.To understand more
has a November, 2020 IPO targeted.GitLab is sharing its impending ARR milestone as it runs its whole business very transparently (hence why
my chat with its CEO was live-streamed, and archived on YouTube)
It will be super interesting to see if the company hits the ARR target on time, and then if it can also stick the landing with a Q4 2020
storage and security spaces, has kept growing since its $75 million Series E it raised last October.The company, backed by Goldman Sachs
(again), GV (again) and Kleiner Perkins, has raised just $137.5 million to date
Reaching $100 million ARR on that level of funding means that Egnyte has run efficiently as a business
CEO Vineet Jain a number of times, but it seemed appropriate to get him back on the phone now that his company is nearly ready to go public
(at least in terms of size)
According to Jain, in fresh data released to Extra Crunch:Egnyte passed the $100 million ARR threshold in NovemberThe company grew about 30%
in 2019Egnyte expects growth to accelerate in 2020
