Cribl surpasses $200m annual recurring revenue mark

Cribl, a data infrastructure company, has announced it has exceeded $200 million in annual recurring revenue (ARR), marking a year-on-year growth of over 70%.

In the wake of a $319 million Series E funding round in 2024, Cribl's ARR milestone follows its achievement of $100 million in ARR in October 2023. The company has rapidly enhanced its customer base, now serving a notable portion of the Fortune 100 and Fortune 500 companies, with a net dollar retention exceeding 130% over the previous 12 months.

"Since Cribl was founded in 2018, we have experienced unprecedented growth driven by our products that are purpose-built for IT and Security, and I'm proud to say Cribl has grown more in the past 14 months than it did in the previous four years as a company," said Clint Sharp, Co-founder and Chief Executive Officer of Cribl.

Sharp said, "Just last year, we reached the incredible milestone of becoming one of the fastest companies ever to achieve centaur status. Reaching $200 million ARR one year later solidifies the transformative value that Cribl's IT and security products are delivering to our customers. We'll continue to bring innovation to market to simplify the lives of IT and security professionals with products that solve real, every day telemetry data challenges."

Cribl has also announced the appointment of Mike Pyle as Chief Revenue Officer to support its continued growth. Pyle brings over 25 years of industry experience, having previously served as Vice President of Worldwide Enterprise Sales at GitLab and Co-General Manager of Heroku, a Salesforce entity.

The company highlights its continued expansion with a customer base increase of more than 50% year-on-year, including 43 Fortune 100 and 130 Fortune 500 companies. The uptake of multiple products from Cribl's portfolio has surged by over 200% in the past year, demonstrating strong multi-product deployments among customers. Additionally, nearly 50 new clients have adopted Cribl Lake since its release in April 2024.

Cribl's monthly active users have increased by 123% over the past 12 months, demonstrating significant user engagement with its solutions. This growth is evidence of Cribl's commitment to addressing complex data challenges faced by its clients.

"Our customers - the IT and security professionals who keep the business running - continue to get massive value from our products, and reaching the $200 million ARR milestone so quickly is a direct result of the real, tangible impact we're delivering," said Mike Pyle, Chief Revenue Officer of Cribl. "While continuing to be one of the fastest growing enterprise technology companies is exciting, our focus remains on solving our customers' most complex data challenges. This customer-first approach drives our market growth and I look forward to continuing to partner with our customers to transform their data strategies amid today's rapidly evolving data landscape."

Cribl's market position has been recognised through a series of industry accolades, including listings on the Forbes Cloud 100 and the Fortune Cyber 60 for two consecutive years, as well as the 2024 Deloitte Fast500, the Redpoint InfraRed 100, Notable Capital's Rising in Cyber, and the Wing Venture Capital Enterprise Tech 30.