Gong, a startup that helps companies predict their revenue from potential sales, has surpassed $300 million in annualized recurring revenue, the company announced on Wednesday. Since its founding in 2016, Gong has used AI to analyze customer interactions. The addition of generative AI capabilities in recent years has helped to fuel the company’s growth. “We’re […] © 2024 TechCrunch. All rights reserved. For personal use only.
Revenue prediction startup Gong has surpassed $300 million in annualized recurring revenue (ARR), signaling potential progress toward an IPO. Founded in 2016, Gong uses AI to analyze customer interactions and predict revenue. The company, valued at $7.25 billion in its 2021 Series E funding, has an ARR-to-valuation multiple of approximately 24 times. Gong serves 4,500 corporate clients, including Canva, Google, LinkedIn, and Square. While Gong's CEO, Amit Bendov, did not disclose exact revenue growth rates, he noted it aligns with top-quartile public SaaS companies, which typically grow between 25% and 56% annually. Gong is nearly profitable and has ample cash from its 2021 round, making an IPO in 2025 unlikely. The company remains focused on milestones beyond an IPO.
