ClickHouse hits $250 million revenue run rate, signals IPO ambitions
The less-than-five-year-old firm, valued at $15 billion in January, has appointed a former Snowflake executive as CFO and plans to continue acquiring open-source technology startups.
Database provider ClickHouse has reached a $250 million annualised revenue run rate, tripling its business from the previous year. Co-founder and president of product and technology Yury Izrailevsky told TechCrunch he expects the revenue figure to reach the high nine figures by the end of the year. The rapid growth positions the company for an initial public offering within the next few years.
The firm was valued at $15 billion in January following a $400 million Series D funding round led by Dragoneer Investment Group. This latest valuation implies a forward multiple of over 60 times annualised revenue. Izrailevsky stated that the company is positioning itself for a public debut, joining a growing list of tech startups targeting the markets as the window is expected to open following SpaceX’s historic June debut.
To support its transition toward public markets, ClickHouse appointed Jimmy Sexton, formerly of competitor Snowflake, as chief financial officer last autumn. Bringing on a CFO is widely viewed as a signal that a company is preparing for public markets. The company serves over 4,000 customers, including Anthropic, Meta, Capital One, and Decagon.
ClickHouse’s open-source database is designed to process the massive datasets required by AI agents. The startup generates revenue by selling managed cloud services. Izrailevsky claimed that the commercial offering ultimately costs clients less than self-managing the open-source version, describing this dynamic as a big tailwind for the business.
The technology behind ClickHouse was originally developed inside Russian search giant Yandex 17 years ago before being spun out as an independent startup in 2021. The firm has already acquired six startups, including Langfuse, which helps developers track and evaluate AI agent performance. Izrailevsky indicated that ClickHouse plans to remain acquisitive, targeting relatively young, open-source startups that complement its core product suite.
