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Utah’s Podium raises pre-IPO round, boosting its valuation to $3 billion



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Podium is back at the fundraising well this year, adding $201 million to its accounts at a $3 billion valuation (post-money).
The Utah-based company, which provides software services including communications and payments tools to SMBs, last raised $125 million at a roughly $1.5 billion valuation. That deal was announced in April 2020.
Podium CEO Eric Rea told Bloomberg that the company has “well over $100 million in annual recurring revenue.” TechCrunch confirmed the metric with the company, though Podium declined to be more specific regarding its current ARR.
Podium previously reached the $50 million ARR mark around the time of its $60 million Series B in November 2018. And we know that it climbed to $100 million ARR toward the end of 2019. This makes the question of how far above the $100 million ARR mark Podium is today rather important — we can’t effectively calculate the company’s growth rate without an up-to-date figure.
Recall that Podium felt cheap during its last raise, given its revenue base and $1.5 billion price tag. The company declined to share a growth target for 2021 or answer our question regarding whether it hopes to match this year’s growth rate in 2022. Given that it has an ocean of new capital, we were …

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