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Gong , a startup that help companies prefigure their revenue from potential sales , has surpassed $ 300 million in annualized recur revenue , the fellowship announce on Wednesday .
Since its innovation in 2016 , Gong has used AI to analyze client interactions . The plus of generative AI capabilities in late years has helped to fire the fellowship ’s growth .
“ We ’re seeing great impulse . That ’s why we ’re excited to partake in the numbers pool , ” Gong CEO Amit Bendov separate TechCrunch .
Gong waslast valued at $ 7.25 billionwhen it raised a $ 250 million serial publication E in 2021 in a sight led by Franklin Templeton with involution from Coatue , Salesforce Ventures , Sequoia , Thrive Capital , and Tiger Global .
Many companies funded in 2020 and 2021 received inflated valuation comparative to their taxation and have since struggled to justify them .
Assuming that Gong is still assess at $ 7.25 billion , the late ARR figure imply that the fellowship is now valued at roughly 24 times ARR and puts Gong in the same pail as some of the largest , most watched AI company .
But Gong ’s valuation may still be elevated proportional to sure new , exceptionally fast - grow AI startups . For representative , Anysphere , the maker of the AI - powered coding helper Cursor , was recently valued at25 times ARR . Anysphere reached $ 100 million in ARR from modest - single millionsin less than a yr . ( Investors typically assign higher valuation multiple to startups with faster growth charge per unit . )
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Although Bendov did n’t share Gong ’s revenue growth , he said it ’s in the compass of “ top - quartile public SaaS companies . ” ( TheBessemer Ventures Cloud Indexindicates that top cloud companies have one-year revenue growth rates between 25 % and 56 % . ) It count among its 4,500 corporate customers ’ companies like Canva , Google , LinkedIn , and Square , Bendov said .
Gong ’s current ARR and increase flight likely puts the company on the path to IPO , and Bendov admitted that a public offering would be an important milestone but said it ’s not in the full treatment for 2025 . “ [ An IPO ] is very interesting but not the most important affair . We are focusing on build amazing mathematical product , ” he said .
If not an initial offering , as for stir another turn from speculation sources , Bendov order that Gong is nearly profitable and still has plenty of Johnny Cash from its 2021 round . “ We almost have n’t touch it . ”
