Gong, the savvy startup helping businesses peer into the future of their potential sales, recently crossed a milestone when it soared past $300 million in yearly recurring revenue, an accomplishment they chose to share on Wednesday.

Established in 2016, Gong found its stride in the application of AI for dissecting customer interactions. With the incorporation of generative AI in recent times, they've propelled their business growth to exciting heights.

Amit Bendov, CEO of Gong, said the company was happy to share its winning stats and credited consistent momentum for the remarkable results. As of last check, Gong was valued at an impressive $7.25 billion, when it secured a $250 million Series E in 2021. With enthusiastic backing from Coatue, Salesforce Ventures, Sequoia, Thrive Capital, and Tiger Global, Franklin Templeton led this fundraising round.

Unlike several startups funded in 2020-2021 who are grappling with inflated valuations against their revenue, Gong's value is implied to be approximately 24 times the latest ARR. This estimation puts Gong in league with some of the biggest and most attentively monitored AI giants, though it might still seem lofty compared to some dynamic, rapidly growing AI startups, demonstrated by Anysphere's example, an AI-based coding helper, Cursor – recently appraised at 25 times ARR. Anysphere spectacularly sprinted from single-digit millions to $100 million ARR in less than a year, which typically accounts for higher investment valuations.

While declining to disclose Gong's precise revenue growth, Bendov confidently placed it among "top-tier public SaaS companies." With companies like Canva, Google, LinkedIn, and Square among its 4500 strong corporate clientele, Gong's current yearly recurring revenue trajectory potentially positions it for an IPO, a realization Bendov views as a significant accomplishment. However, he quickly reassured that Gong's focus isn't shifting from building remarkable products to preparing for a 2025 IPO.

Despite being on the cusp of profitability and having a gravitating cash reserve from its past funding round, Gong doesn't dismiss the possibility of exploring another venture round. According to Bendov, "We almost haven't touched it." The continued growth of Gong is an exciting spectacle to watch unfold.