Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.
When we kicked off our series on private companies that have reached $100 million ARR, we didn’t expect it to last. Maybe a piece or two, but nothing more. Today’s entry should bring us past the thirty company mark.
It was less than a month ago that we added eight names to the club in a single post (HeadSpin, UiPath, DigitalOcean, BounceX, Wrike, Aeris, Podium and Lucid), the latter two of which had recently raised capital, announcing their revenue milestones at the same time. This morning, we’re appending just three names, but pay attention all the same.
We joked in February that our running tally of growth-oriented, private companies that had reached $100 million in annual recurring revenue read like a list of firms that either could, or should go public in short order. Since then, the IPO market has largely closed in light of COVID-19, so I suppose we’re more adding to the backlog than queuing up companies for an S-1.New names
We’ll start, then, with Recorded Future .Recorded Future
Boston-based Recorded Future, a cybersecurity company focused on “threat intelligence,” announced that it crossed the $100 million ARR mark recently, making the firm a success story for its city. But as with so many companies that we add to our list, its inclusion is slightly fraught.