Database provider ClickHouse has surpassed $250 million in annual revenue, tripling its business from last year, Yury Izrailevsky, co-founder and president of product and technology, told TechCrunch. Izrailevsky expects the revenue number to reach the high nine digits by the end of the year.
ClickHouse was valued at $15 billion in January after a $400 million Series D funding round led by Dragoneer Investment Group. The most recent valuation implies a steep multiple of more than 60x annual revenue.
Rapid revenue growth and a premium valuation position the less than five-year-old company for an IPO in the coming years, according to Izrailevsky (pictured left). ClickHouse joins a small but growing list of tech startups signaling plans to go public as the IPO window is expected to open wide from SpaceX’s historic debut in June, followed by long-awaited listings from OpenAI and Anthropic later this year.
Last fall, the startup hired Jimmy Sexton, who previously managed investor relations at Snowflake, one of ClickHouse’s main competitors, as CFO. Bringing in a CFO is often seen as a signal that a company is preparing for public markets.
The company has already acquired six startups, including Langfuse, which helps developers monitor and evaluate the performance of AI agents. Izrailevsky said ClickHouse plans to remain acquisitive, seeking to acquire startups “relatively young but with promising technology,” usually open source, that complement its core product line.
The technology behind ClickHouse was originally developed within Russian search giant Yandex 17 years ago, but launched as an independent startup in 2021.
ClickHouse has over 4,000 clients including Anthropic, Meta, Capital One and Decagon.
The startup’s open-source database is designed to process the massive data sets required by AI agents. ClickHouse generates revenue by selling managed cloud services. Izrailevsky claimed that this commercial offering ultimately costs customers less than self-managing the open source version. “It’s something that’s a bit counterintuitive, but it’s also been a big headwind for us,” he said.
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