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PostHog: the $9.5M/year anti modern data stack company

Jan-Erik Asplund

TL;DR: PostHog hit $9.5M annual recurring revenue (ARR) this month, up 138% year-over-year, with their all-in-one analytics platform that bundles together event capture with feature flagging, session replays, A/B testing, and user surveys. For more, check out our PostHog dataset.

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Key points from our research:

  • PostHog (launched 2020) found product-market fit cutting the time developers spend setting up product analytics, feature flagging, and session replay to ~1 day instead of ~2 weeks by auto-capturing events via a Javascript snippet (“posthog.js”) embedded on the site. In the beginning, PostHog let developers self-host their product for free, with the aim of capturing them early and growing with them over time.
  • Sacra estimates that PostHog is at $9.5M annual recurring revenue (ARR) as of March 2024, up 138% year-over-year and 87x since March 2021 when they turned on their self-serve, cloud-hosted product. Pricing by usage rather than seats makes it easy for anyone in the organization to start using PostHog, facilitating their land-and-expand motion by which they sell a company their first product analytics tool and then cross-sell them into their other products like A/B testing, surveys, and feature management.
  • PostHog is building an Atlassian-esque, all-in-one platform with an embedded CDP to take on Segment, an embedded data warehouse to take on Snowflake, and embedded ETL to take on Fivetran, with the goal of becoming a company’s core router for customer and user data. With their single platform approach, PostHog is counter-positioning against the sprawl of the “modern data stack”, where teams have to use tools like Segment, dbt, and Census to stitch together their data warehouse and all of their workflow apps.

For more, check out our other research here:

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