ClickHouse Hits $250M in Annualized Revenue, Eyes Potential IPO

Database powerhouse ClickHouse has announced a significant milestone: crossing the $250 million mark in annualized revenue, marking a threefold increase from last year. According to Yury Izrailevsky, co-founder and president of product and technology at ClickHouse, the company is on track to hit high nine figures by the end of 2023.

Valued at $15 billion in January following a $400 million Series D funding round led by Dragoneer Investment Group, this latest valuation implies a multiple of over 60 times annualized revenue. The rapid growth and premium valuation position the less-than-five-year-old company for an Initial Public Offering (IPO) within the next few years, according to Izrailevsky.

ClickHouse joins a growing list of tech startups signaling plans to go public as the IPO window opens up. SpaceX’s historic June debut and upcoming listings from OpenAI and Anthropic are expected to make this a favorable time for tech companies. In preparation, ClickHouse has hired Jimmy Sexton, previously CFO at Snowflake (a main competitor), as its own CFO.

The company has already acquired six startups, including Langfuse, which helps developers track AI agent performance. Izrailevsky indicated plans to remain acquisitive, seeking out “relatively young but showing very promising technology” open-source startups that can complement its core product suite.

Developed inside Russian search giant Yandex 17 years ago, ClickHouse was spun out as an independent startup in 2021. With over 4,000 customers such as Anthropic, Meta, Capital One, and Decagon, the company’s open-source database is designed to process 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.