ClickHouse triples annual revenue to $250 million, charts path toward IPO

Database provider ClickHouse surpassed $250 million in annual revenue run rate, tripling its business from last year, Yuri Izrailevsky, co-founder and head of product and technology, told TechCrunch. Israilevsky expects revenue to reach the high nine figures by the end of the year.

ClickHouse was valued at $15 billion in January following a $400 million Series D funding round led by Dragoneer Investment Group. The latest valuation suggests a steep multiple of more than 60 times annual revenue.

Rapid revenue growth and an outstanding valuation position the less than five-year-old company for an IPO within the next few years, according to Izrailevsky (pictured left). ClickHouse joins a small but growing list of tech startups signaling plans to go public, with the IPO window expected to be wide open by SpaceX’s historic debut in June, followed by highly anticipated listings from OpenAI and Anthropic later this year.

Last fall, the startup hired Jamie Sexton, who previously ran investor relations at Snowflake, a major competitor to ClickHouse, as CFO. The appointment of a CFO is often seen as a signal that a company is preparing for the public markets.

The company has already acquired six startups, including Langfuse, which helps developers track and evaluate AI agent performance. Izraevsky noted that ClickHouse plans to continue its acquisition policy, looking to attract “relatively young, but showing very promising technology” startups, usually open source, that complement its core product suite.

The technology behind ClickHouse was originally developed within Russian search giant Yandex 17 years ago, but emerged as an independent startup in 2021.

ClickHouse has more than 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 a little counterintuitive, but it’s also been a big tailwind for us,” he said.