If 5 more startups join the $ 100 million club, will we just create a pre-IPO list?

<pre><pre>If 5 more startups join the $ 100 million club, will we just create a pre-IPO list?

Hello and welcome back to our regular morning view of private companies, public markets and the gray areas in between.

Today we're adding five names to the club and the $ 100 million Annual Recurring Revenue List (ARR) all previous members in a single post. This series, which, to be honest, was a minor accident, spanned more than a dozen companies that reached an ARR of $ 100 million, and a handful of others that were close together.

Today we're adding Seismic, ThoughtSpot, Noom, Riskified and Moveable Ink to the list. As always, we have funding histories, growth metrics, and interviews about the new group below. But at this point in time, as we approach two dozen companies, it's a good time to ask: What list do we make?

Initially, the jokingly named "$ 100M ARR Club" aimed to highlight companies of real scale, an idea that should gently resist the nickname "unicorn." As more and more unicorns were born and the world of private capital was able to get startups of all maturity levels above the required valuation threshold of $ 1 billion, the term felt too watered down to have a high signal value.

In contrast, $ 100 million ARR felt much “tougher” for the comparable squishiness of valuation metrics. But since that first post, more and more companies have written, shared hard metrics, and the series has continued. Maybe we're really just putting together an IPO watchlist, a group of companies that are likely to (or should) go public in the next 18 months.

Let us delve into our new additions. Then we list all of our previous participants with links to our previous coverage if you catch up. Here is here the entire $ 100 million ARR club A list of companies that we believe could go public in the next six quarters.