ClickHouse Surges to $250M in Annual Revenue, Poised for IPO

Database powerhouse ClickHouse has achieved a remarkable milestone, crossing the $250 million mark in annualized revenue run rate, a threefold increase from the previous year, according to Yury Izrailevsky, co-founder and president of product and technology. Speaking with TechCrunch, Izrailevsky shared that the company anticipates reaching high-nine-digit revenues by the end of 2023.

ClickHouse was recently valued at $15 billion following a $400 million Series D funding round led by Dragoneer Investment Group. This valuation translates to an impressive multiple of over 60x annualized revenue, positioning the less-than-five-year-old company for a potential IPO within the next few years.

The fast-growing startup is already part of a select group of tech firms signaling plans to go public, joining SpaceX and highly anticipated listings from OpenAI and Anthropic. ClickHouse has also hired Jimmy Sexton as chief financial officer, a move often viewed as a preparation for an IPO. The company has acquired six startups, including Langfuse, aiming to remain acquisitive by focusing on promising young open-source technologies that align with its core product suite.

Originally developed within Russian search giant Yandex 17 years ago, ClickHouse was spun out into an independent startup in 2021. With over 4,000 customers, including Anthropic, Meta, Capital One, and Decagon, the company’s open-source database is designed to handle massive datasets required by AI agents. ClickHouse generates revenue through its managed cloud services, which Izrailevsky claims ultimately cost clients less than self-managing the open-source version.