Summary:
ClickHouse Inc. reaches a $6.35 billion valuation after a $350 million funding round led by Khosla Ventures
The startup's data platform is pivotal for AI tool development, with a near $100 million annualized revenue run rate
Competes with Snowflake Inc. and Databricks Inc., serving clients like Tesla Inc. and Anthropic
Plans to use funding for international expansion, big customer wins, and acquisitions
Secured an additional $100 million credit facility from Stifel Nicolaus and Goldman Sachs Group Inc.
ClickHouse Inc., a database technology startup, has nearly tripled its valuation to $6.35 billion in a new funding round, highlighting the growing investor enthusiasm for companies powering the AI revolution. Khosla Ventures led the $350 million financing, with participation from new and existing investors including Bond Capital, Institutional Venture Partners, and Battery Ventures.
Rapid Growth and AI Adoption
ClickHouse's data platform is designed for fast and cost-effective query responses, making it ideal for companies looking to run and build AI tools. The startup is nearing an annualized revenue run rate of $100 million, a testament to its rapid growth since launching its cloud product in 2022.
Competing in a Crowded Market
Based in Silicon Valley with offices in the Netherlands, ClickHouse was spun out from Yandex NV four years ago. It now competes with giants like Snowflake Inc. and Databricks Inc. in the data analysis and organization software market. The startup counts AI company Anthropic, Tesla Inc., and the Memorial Sloan Kettering Cancer Center among its customers.
Funding and Future Plans
The funding will fuel international expansion, customer acquisition, and further startup purchases, following the acquisitions of HyperDX and PeerDB. Additionally, ClickHouse secured a $100 million credit facility led by Stifel Nicolaus and Goldman Sachs Group Inc.
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