As we head Towards the 2020 exit, we have another name to add to the roll call of private companies that have reached $ 100 million annual recurring revenue (ARR) milestones. Well, one and a half.
But before we get in Nexthink And give an honorable mention to the coalition, let us talk about the startups we are looking for in 2021.
$ 100 million ARR list Along with the accident, a bizarre incident of a news cycle that occurred with some companies when I was in transition back to work at TechCrunch. So, when I came back to our WordPress install, the group of companies that had recently reached nine-figure revenue Top of mind.
But the $ 100 million ARR proved less useful than looking at companies, as we might expect. Most of the work we did was to collect a bucket of companies that were going to go public.
This was always a risk. As we wrote at the time:
Perhaps the startup market would do well to celebrate the $ 50 million ARR mark even more vigorously. At $ 50 million ARR, a startup is increasing the size of the IPO. That is the goal, after all.
This is our goal 2021.
If your startup is approaching the $ 50 million ARR mark or the $ 50 million annual run rate limit, I want to hear from you. If your startup has an annual run rate of between $ 35 million and $ 60 million, skip a line, privately held, and you’re willing to chat about how fast it’s growing . (Exchange First picked up this idea in november.)
Nexthink IPO gets ready
Nexthink is an enterprise-backed software company with headquarters in Lausanne, Switzerland and Boston. according to this pitch book, Nexthink raised nominal capital from 2006 to 2014, when the startup made a $ 14.5 million Series D. Its first value in that round was over $ 10 million.
From there, Nexthink was a venture capital success story, possibly scaling back quickly as it raised two big rounds of $ 40 million and $ 85 million in 2016 and 2018, respectively. Nexthink was valued at a little over $ 558 million (post-money) after its 2018 round.
How does it attract so much external wealth? By building digital experience monitoring software. Which, after a little research this morning, is software aimed at keeping track of what corporate end-users are doing with devices and how well the software running on those devices works.