Database provider ClickHouse has crossed $250 million in annualized revenue run rate, tripling its business from last year, Yury Izrailevsky, co-founder and president of product and technology, told TechCrunch. Izrailevsky expects the revenue figure to reach the high-nine digits by the end of the year.

ClickHouse was valued at $15 billion in January following a $400 million Series D funding round led by Dragoneer Investment Group. The latest valuation implies a steep multiple of over 60x annualized revenue.

The fast revenue growth and premium valuation position the less-than-five-year-old company for an IPO within the next few years, according to Izrailevsky (pictured left). ClickHouse joins a small but growing list of tech startups signaling plans to go public as the IPO window is expected to be flung wide open by SpaceX’s historic June debut, followed by highly anticipated listings from OpenAI and Anthropic later this year.

Last fall, the startup hired Jimmy Sexton, who previously ran investor relations at Snowflake, one of ClickHouse’s main competitors, as chief financial officer. Bringing on a CFO is often viewed as a signal that a company is preparing for public markets.

The company has already acquired six startups, including Langfuse, which helps developers track and evaluate AI agent performance. Izrailevsky indicated that ClickHouse plans to remain acquisitive, looking to scoop up “relatively young, but showing very promising technology” startups, typically open source, that complement its core product suite.

The technology behind ClickHouse was originally developed inside Russian search giant Yandex 17 years ago, but spun out as an independent startup in 2021.

ClickHouse has over 4,000 customers, including Anthropic, Meta, Capital One, and Decagon.

The startup’s open source database is designed to process the massive datasets required by AI agents. ClickHouse generates revenue by selling managed cloud services. Izrailevsky claimed that this commercial offering ultimately costs clients less than self-managing the open source version. It “is something that’s a little counterintuitive, but it also has been a big tailwind for us,” he said.

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