Revenue prediction startup Gong surpasses $300M in annualized revenue, indicating potential IPO path
Gong, a startup that helps companies to predict their turnover from potential turnover, has surpassed $ 300 million in recurrent income, the company announced on Wednesday.
Since its foundation in 2016, Gong AI has used to analyze customer interactions. The addition of generative AI possibilities in recent years has contributed to the growth of the company.
“We see a great momentum. That is why we are pleased to share the figures, “Gong CEO Amit Bendov told WAN.
Gong was last appreciated at $ 7.25 billion when in 2021 it collected a $ 250 million series in a deal led by Franklin Templeton with the participation of coatue, Salesforce Ventures, Sequoia, Thrive Capital and Tiger Global.
Many companies that were financed in 2020 and 2021 received blown -up valuations in relation to their income and have since had trouble justifying them.
Assuming Gong is still appreciated at $ 7.25 billion, the last ARR figure means that the company is now appreciated about 24 times and Gong is placed in the same bucket as some of the largest, most viewed AI companies.
But the valuation of Gong can still be increased compared to certain newer, exceptionally fast-growing AI startups. Anysphere, the maker of the AI-driven coding assistant cursor, was recently appreciated on 25 times judgment. Anysphere reached $ 100 million in Arr from a low millions of millions in less than a year. (Investors usually assign higher valuation multiples to startups with faster growth speeds.)
Although Bendov has not shared the revenue growth of Gong, he said it is in the reach of ‘Top-Quartiel public Saas companies’. (The Bessemer Ventures Cloud Index Indicates that top clouds have annual revenue growth between 25% and 56%.) It counts up to the 4,500 business customers such as Canva, Google, LinkedIn and Square, said Bendov.
Gong’s current Arr and growing process probably brings the company on its way to IPO, and Bendov admitted that a public offer would be an important milestone, but said it is not in the making for 2025. “[An IPO] Is very interesting, but not the most important thing. We focus on building great products, “he said.
If not an IPO, with regard to the collection of a new round from business sources, Bendov said that Gong is almost profitable and still has a lot of money from the round of 2021. “We hardly touched it.”
