Cloudinary passes $60M ARR without VC money

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.

Today we’re continuing our exploration of companies that have reached material scale, usually viewed through the lens of annual recurring revenue (ARR). We’ve looked at companies that have

reached the $100 million ARR mark

and a few that haven’t quite yet, but are on the way.

Today, a special entry. We’re looking at a company that isn’t yet at the $100 million ARR mark. It’s 60% of the way there, but with a twist. The company is

bootstrapped

. Yep, from pre-life as a consultancy that built a product to fit its own needs, Cloudinary

is cruising toward nine-figure recurring revenue and an IPO under its own steam.