News
Company news and developments, with original sources and dates.
Updated from source
Funding RSS ↗Vanta ARR at $100M in less than 5 years
On 2024/1/31, Vanta reported that the US security compliance automation platform achieved USD 100 million in annual recurring revenue in less than five years. It automates compliance processes including SOC 2, HIPAA, and ISO 27001, with more than 7000 customers and approximately 900 new customers each quarter. Nearly one quarter of customers are outside the US.
Listed company proposes CNY 18 million WorkMagic investment through convertible loan and warrants
On 2023/12/11, a listed company’s announcement disclosed a proposed CNY 18 million investment arrangement, using a convertible loan and warrants as an interim structure, subject to conditions including overseas investment approval and completion of a red-chip structure. No direct original evidence of closing had been obtained, so it is not described as completed Pre-A equity funding.
VAST Data at $200 million ARR
On 2023/12/7, X reported that VAST Data, a US AI data storage platform, disclosed annual recurring revenue of USD 200 million, annual growth of approximately 3.3 times, and a gross margin approaching 90%. Its platform unifies storage, databases, and containerized computing engines. Customers include Booking Holdings, the US Air Force, Verizon, Pixar, Zoom, and others.
We have become a platform mid-market and large enterprises can trust to deliver high-performing marketing content consistent with their brands.
On 2023/12/1, Maginative reported that US generative AI marketing content platform Jasper had appointed Timothy Young as CEO after growth slowed and reduced its internal valuation. It initially gained brand customers including Airbnb and HarperCollins using OpenAI technology, with current annualized revenue of approximately USD 90 million.
Only 40 employees: Midjourney annual revenue reaches USD 200 million as it develops V6
On 2023/9/8, NetEase reported that Midjourney, a US AI image generation company, disclosed annual revenue of USD 200 million with approximately 40 staff and no external investors. Delivered through Discord, it charges monthly fees ranging from 10 to USD 120. Users increased from 2 million to 14.8 million within one year, while it developed V6 and explored video and 3D asset generation.
Wiz reaches USD 200 million ARR in three years at USD 10 billion valuation, raises USD 300 million Series D
On 2023/5/6, Yahoo Finance reported that US cloud security company Wiz had raised USD 300 million in Series D funding at a USD 10 billion valuation, reaching that valuation approximately 2.9 years after founding. ARR doubled from USD 100 million to USD 200 million within 9 months, and customers included BMW, Morgan Stanley and Salesforce, covering approximately 35% of Fortune 100 companies.
TT Voice parent Quwan Group raises USD 100 million Series B, plans Hong Kong IPO
TT Voice parent Quwan Group completed Series B rounds totaling USD 100 million in 2021/2, with USD-denominated funds including Matrix Partners China and Orchid Asia investing, and subsequently filed with the Hong Kong Stock Exchange.