Fireblocks Achieves 'Centaur' Status With $100M Annual Recurring Revenue

This article comes fromThe Block, original author: Yogita Khatri

Odaily Translator | Nian Yin Si Tang

Summary:

This article comes from

, original author: Yogita Khatri

Odaily Translator | Nian Yin Si Tangsecondary titleSummary:

- Fireblocks says it has achieved "Centaur" status with $100 million in annual recurring revenue.- The term was coined by Bessemer Venture Partners for SaaS startups that reach this milestone.Fireblocks is a

Valuation up to $8 billion

An encrypted custody company specializing in the development of secure storage and transmission tools for cryptocurrencies. The company announced Monday that its annual recurring revenue (ARR) has reached what it calls "Centaur" status -- or $100 million.

It is understood that the word "Centaur" is

Created by Bessemer Venture Partners

, used to describe software-as-a-service (SaaS) startups that hit the $100 million annual recurring revenue milestone. Bessemer believes that unicorns (primary market companies with a valuation of more than 1 billion US dollars) are no longer enough to be a measure of corporate success. The only thing that unicorns can really show now is the company’s ability to obtain financing, and Centaur is more representative of the company’s Fundamentally, Centaur is even more scarce. In 2021, 520 unicorn companies will be born, but only 60 will meet the centaur standard.

Fireblocks says it has surpassed $100 million in ARR just four years after its founding and three years after its first product hit the market. That puts it in the ranks of tech darlings like Slack and Twilio, both of which reached "Centaur" status in less than five years. Meanwhile, Fireblocks hosted a conference in Barcelona, ​​where it took over the entire waterfront W Hotel.