The company announced Wednesday that Luo is a startup that helps the company predict potential sales revenue, which has exceeded $300 million in annual recurring revenue.
Since its inception in 2016, Gong has used AI to analyze customer interactions. In recent years, adding generated AI capabilities has helped drive company growth.
“We see a huge momentum. That’s why we’re happy to share these numbers.
The gong is The last one is worth $7.25 billion Franklin Templeton raised $250 million in a deal with the involvement of Coatue, Salesforce Ventures, Sealesforce Ventures, Sequoia, Thrive Capital and Tiger Global.
Many companies funded in 2020 and 2021 have received high valuations relative to their revenues and have since been working to justify them.
Assuming the value of the gong is still $7.25 billion, the latest ARR number means the company is now worth about 24 times, and puts the gong in the same bucket with some of the largest, most viewing AI companies.
However, Gong’s valuation can still be improved compared to some updated, unusually fast-growing AI startups. For example, Anysphere, the manufacturer of AI-Power’s coding assistant cursor, has been recently valued 25 times ARR. Anysphere reaches $100 million from low single million dollars Less than a year. (Investors usually allocate higher valuation multiples to startups with faster growth rates.)
Although Bennov didn’t share the revenue growth of Gong, he said it was the scope of “a quarter of public SaaS companies”. (this Bessemer Ventures Cloud Index Bendov said the top cloud companies have annual revenue growth rates between 25% and 56%.
Gong’s current ARR and growth trajectory may have put the company on the road to an IPO, and Bendov acknowledged that the public offering would be a major milestone, but said it was not in 2025.
If it weren’t for the IPO, raising a round from risk resources, Bennov said the gong was almost profitable and there was still enough cash from 2021. “We hardly touched it.”
