Gong, a startup specializing in revenue prediction through AI-driven sales analytics, has surpassed $300 million in annualized recurring revenue (ARR), the company announced on Wednesday. The milestone signals the company’s sustained growth and positions it as a potential IPO candidate in the future.
Founded in 2016, Gong has leveraged artificial intelligence to analyze customer interactions and forecast revenue from potential sales. The company’s expansion into generative AI in recent years has further fueled its momentum. “We’re seeing great momentum. That’s why we’re excited to share the numbers,” said CEO Amit Bendov in an interview with TechCrunch.
Gong last secured funding in 2021 with a $250 million Series E round led by Franklin Templeton, alongside Coatue, Salesforce Ventures, Sequoia, Thrive Capital, and Tiger Global. That funding valued the company at $7.25 billion. If that valuation holds, Gong’s latest ARR figures suggest it is trading at around 24 times revenue—placing it in the same category as some of the most closely watched AI firms.
While high, Gong’s multiple remains slightly below that of certain fast-scaling AI startups. Anysphere, the company behind the AI-powered coding assistant Cursor, was recently valued at 25 times ARR, having grown from low-single-digit millions to $100 million ARR in under a year. Investors often assign higher multiples to startups with steeper growth curves.
Though Bendov did not disclose exact revenue growth rates, he indicated that Gong is growing at a pace comparable to “top-quartile public SaaS companies.” According to the Bessemer Ventures Cloud Index, leading cloud firms typically see annual growth rates between 25% and 56%. Gong serves over 4,500 corporate clients, including Canva, Google, LinkedIn, and Square.
An IPO remains a possibility, but Bendov dismissed any plans for 2025, stating that while going public would be an important milestone, the company’s priority is on developing its product. As for additional venture funding, Gong is nearing profitability and still has significant capital from its last funding round. “We almost haven’t touched it,” Bendov said.
Featured image courtesy of Freepik
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